* Verb: When it describes an action, it's a verb. Example: "I am waiting for the bus."
* Gerund: When it acts as a noun, it's a gerund. Example: "Waiting can be tedious."
* Present participle: When it modifies a noun, it's a present participle. Example: "The waiting crowd grew restless."
To determine the part of speech, look at how the word functions in the sentence.