If my mom borrows money equal to the whole cost to buy a house and later if she gives me the house will i have to pay taxes on the whole amount ?

[patrickpears]

Do i have to make a legal agreement that she borrowed the money or just an understanding will be enough?
Does she have to put me on the title at time of purchase and when i inherit it what type of taxes will i have to pay

[IsabellaG · Accepted solution]

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.