Option B is correct since the suffix -ed changes the noun to the adjective, attributing it as 'someone who's exceptionally talented'. In the phrase "the gifted child", the adjective 'gifted' modifies the noun 'child'. Option C is an adjective that means 'something that is capable of being gifted'. In the phrase, "this is a giftable item", the adjective 'giftable' modifies the noun 'item', hence option C is correct. The words 'giftly' and 'giftful' are not used in Standard English language, hence options A and D are incorrect.