My son Just assumed my mgt. for 193,000 and I executed a quick claim deed what are the tax issues for me on the equity in the home which is approximately $35,000?

The home's cost was $220,000, homes in the area are selling for $235 K to 240 K.

What forms if any do I have to file for my 2017 return?

What is my son's cost basis?

Is there a gift tax involved with equity?