Select the option that expresses the given sentence in passive voice.

She gifted me a beautiful handbag.

I was gifted a beautiful handbag by her. 

The correct passive voice form of the given sentence "She gifted me a beautiful handbag" is I was gifted a beautiful handbag by her.

The active voice of the sentence is "She gifted me a beautiful handbag." This sentence is in the simple past tense, which is used to describe an action that happened in the past. The passive voice of the sentence is formed by putting the subject of the active sentence after the verb "to be" and the past participle of the main verb. In this case, the subject of the active sentence is "me" and the main verb is "gift." The past participle of "gift" is "gifted." So, the passive form of the sentence is "I was gifted a beautiful handbag by her."

The other options are incorrect because:

• I am gifted a beautiful handbag by her." This sentence is in the present tense, but the action of gifting the handbag happened in the past.
• I am being gifted a beautiful handbag by her." This sentence is in the present progressive passive voice, which is used to describe an action that is happening now but is not finished. However, the action of gifting the handbag is not happening now.
• I have been gifted a beautiful handbag by her." This sentence is in the present perfect passive voice, which is used to describe an action that has happened in the past and is still relevant to the present. However, the action of gifting the handbag is not relevant to the present.