### Question
What does gift mean?


### Answer
**Gift** has the following meaning in *26 U.S.C. § 274*:

> any item excludable from gross income of the recipient under section 102 which is not excludable from his gross income under any other provision of this chapter, but such term does not include—


(A) an item having a cost to the taxpayer not in excess of $4.00 on which the name of the taxpayer is clearly and permanently imprinted and which is one of a number of identical items distributed generally by the taxpayer, or


(B) a sign, display rack, or other promotional material to be used on the business premises of the recipient

#### Citation:
  - *26 U.S.C. § 274*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART IX-ITEMS NOT DEDUCTIBLE**

