Maria received a gift of stock from her favorite uncle. The stock had a fair market value of $40,000 and a basis to the uncle of $10,000 at the date of the gift. Is the gift taxable to Maria? If so, how much is taxable? Is the gift taxable to to the uncle? If so, how much is taxable? If the uncle sold the stock and gave the proceeds as a gift to Maria would the gift be taxable to either Maria or the Uncle? If so, how much would be taxable? Cite the section of the Internal Revenue Code to support your answers.