No, you cannot claim the entire sale (and thus the profits) as your own. If you co-own it, each of you will have to report 50% of the sale and profit. If your mother gifts the house to you, it will be yours, and you will claim the entire amount. If her share of equity is more than $15,000, she will need to file a gift tax return. She won't have to pay gift tax but the form needs to be filed. For more information, see: https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-tax...
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