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.

True

b$.$ If the payment is intended to be for services rendered, it is not considered to be a gift; even if the payment is made without legal or moral obligation and the payor receives no economic benefit from the transfer.

True

c$.$ To qualify as a gift, the payment must be made "out of affection, respect, admiration, or charity."

True

d$.$ The recipient of a gift of income$-$producing property is not taxed on the income subsequently earned from the property.

False

e$.$ Transfers from an employer to an employee can be excluded as a gift.

False