Indicate whether the following statements are "True" or "False" regarding the taxation of gifts and inheritances.

a.	The recipient of a gift is allowed to exclude the value of the gift from gross income.
b.	If the payment is intended to be for services rendered, it is not a gift, even though the payment is made without legal or moral obligation and the payor receives no economic benefit from the transfer.
c.	To qualify as a gift, the payment must be made "out of affection, respect, admiration, or charity."
d.	The recipient of a gift of income-producing property is not taxed on the income subsequently earned from the property.
e.	Transfers from an employer to an employee can be excluded as a gift.