For the most part, cash gifts are easy. You deposit them in your account and spend them for whatever purpose the donor intended.
With respect to non-cash gifts, it gets a little more complicated. “Gifts in Kind” and “Gifts of Property” are terms that we may use more or less interchangeably, but which may mean slightly different things to different people.
Fortunately, if you limit the conversation to deductible gifts, the differences mostly sort themselves out. Contributed by Alan S. Hejnal.
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