Source : Webster's Revised Unabridged Dictionary (1913)

Gift \Gift\, n. [OE. gift, yift, yeft, AS. gift, fr. gifan to
   give; akin to D. & G. gift, Icel. gift, gipt, Goth. gifts (in
   comp.). See {Give}, v. t.]
   1. Anything given; anything voluntarily transferred by one
      person to another without compensation; a present; an
      offering.

            Shall I receive by gift, what of my own, . . . I can
            command ?                             --Milton.

   2. The act, right, or power of giving or bestowing; as, the
      office is in the gift of the President.

   3. A bribe; anything given to corrupt.

            Neither take a gift, for a gift doth blind the eyes
            of the wise.                          --Deut. xvi.
                                                  19.

   4. Some quality or endowment given to man by God; a
      pre["e]minent and special talent or aptitude; power;
      faculty; as, the gift of wit; a gift for speaking.

   5. (Law) A voluntary transfer of real or personal property,
      without any consideration. It can be perfected only by
      deed, or in case of personal property, by an actual
      delivery of possession. --Bouvier. Burrill.

   {Gift rope} (Naut), a rope extended to a boat for towing it;
      a guest rope.

   Syn: Present; donation; grant; largess; benefaction; boon;
        bounty; gratuity; endowment; talent; faculty.

   Usage: {Gift}, {Present}, {Donation}. These words, as here
          compared, denote something gratuitously imparted to
          another out of one's property. A gift is something
          given whether by a superior or an inferior, and is
          usually designed for the relief or benefit of him who
          receives it. A present is ordinarly from an equal or
          inferior, and is always intended as a compliment or
          expression of kindness. Donation is a word of more
          dignity, denoting, properly, a gift of considerable
          value, and ordinarly a gift made either to some public
          institution, or to an individual on account of his
          services to the public; as, a donation to a hospital,
          a charitable society, or a minister.

Gift \Gift\, v. t. [imp. & p. p. {Gifted}; p. pr. & vb. n.
   {Gifting}.]
   To endow with some power or faculty.

         He was gifted . . . with philosophical sagacity. --I.
                                                  Taylor.

Source : WordNet®

gift
     v 1: give qualities or abilities to [syn: {endow}, {indue}, {empower},
           {invest}, {endue}]
     2: give as a present; make a gift of; "What will you give her
        for her birthday?" [syn: {give}, {present}]

gift
     n 1: something acquired without compensation
     2: natural qualities or talents [syn: {endowment}, {talent}, {natural
        endowment}]
     3: the act of giving [syn: {giving}]