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A gift is the voluntary transfer of property or funds to another without receiving anything of value in return and without conditions attached while both the giver and the recipient are still alive. The gift giver (donor) must understand the nature of the act and have a voluntary intent to make a gift, called a donative intent. There must be either physical or symbolic delivery of the gift and actual or imputed acceptance by the donee.
Large gifts are subject to the federal gift tax, and in some states, to a state gift tax. However, a person or entity can give any amount – no matter how large – to a qualified charity completely tax-free.