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Get your taxes done using TurboTax
If your mother is actually giving you the house, it's not taxable to you, but your mother may be subject to Gift Tax. If she gives you the house, she would transfer the title to you.
If she gives you the house, you won't inherit it because it will be yours, but if she doesn't transfer the title to the home to you, and you inherit the home when she passes away you won't pay taxes on that either. Both gifts and inheritances aren't taxable to the recipient, but gifts may be taxable to the giver.
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‎June 5, 2019
3:05 PM