Stories about New Testament gifts (7)
I believe the answer is:
talents
'gifts' is the definition.
(I know this)
'stories about new testament' is the wordplay.
'stories' becomes 'tales' ('tale' can be a synonym of 'story').
'about' is an insertion indicator.
'new testament' becomes 'nt'.
'tales' going around 'nt' is 'TALENTS'.
(Other definitions for talents that I've seen before include "Gifts, abilities" , "Natural aptitudes" , "Special aptitudes" , "Last ten (anag.)" , "Skills" .)