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Are the following true or false about Ferderal Income Tax based on $2023$Tax Law.

$-$The fair market value of property received as a result of a bartering transaction must be included in the recipient's gross income.

$-$ Stock distributions of convertible preferred stock to a company's common stock shareholders are always taxable to the recipient.

$-$ Gross income may be received via cash, receivables, property, and land, but not any any other form of economic benefit.

$-$ Discharge of an individual's debt in a Title $11$ bankruptcy case does not result in the recognition of income by the individual whose debt was discharged.

$-$ If an employee receives common stock of his$/$her corporate employer as compensation for services rendered, the fair market value of the stock at the time of transfer is included in the recipient shareholder's income.

$-$ An individual who receives a court ordered sum of money as punitive damages must include the amount in his$/$her gross income.

$-$ As a general rule, an employee receives an exclusion from gross income for a no$-$additional cost benefit only if the employer must incur significant additional cost in order to provide the benefit.

$-$ The donor of a gift is entitled to a deduction "for" adjusted gross income in an amount equal to the value of the gift.

$-$ If a taxpayer receives corporate stock as compensation for services rendered to the corporation, the par value of the stock at the time of transfer is included in the recipient's gross income.

$-$ As a general rule, the value of an inheritance is included in gross income of the beneficiary$/$heir$.$

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