We generalize three classical characterizations of line graphs to line graphs of signed and gain graphs: the Krausz's characterization, the van Rooij and Wilf's characterization and the Beineke's characterization. In particular, we present a list of forbidden gain subgraphs characterizing the class of gain-line graphs. In the case of a signed graph whose underlying graph is a line graph, this list consists of exactly four signed graphs. Under the same hypothesis, we prove that a signed graph is the line graph of a signed graph if and only if its eigenvalues are either greater than $-2$, or less than $2$, depending on which particular definition of line graph is adopted.