It's a Wonderful Life is a 1946 Christmas-themed drama from producer/director Frank Capra, based on Philip Van Doren Stern's 1939 short story "The Greatest Gift", privately published in 1945.Premiered in New York City on December 20, 1946, it's one of the lesser-known flops that can be viewed at any time, not just December. George Bailey, a man who has given up his dreams in order to help others and whose imminent suicide on Christmas Eve brings about the intervention of his guardian angel, Clarence, as he shows George all the lives he has touched and how different life in his community of Bedford Falls would be had if he never-been born. Despite initially performing poorly at the box office due to high production costs and stiff competition at the time of its release, the film's break-even point was actually $6.3 million, approximately twice the production cost, a figure it never came close to achieving in its initial release. It went on nominated for 5 Oscars and has been recognized #11 in the 1998 AFI movie list, and would also place number one on its list of the most inspirational films of the time.