My mom wants to give me cash & land worth $30k & was advised a gift equity would do both. How does this gift/loan work & what taxes need I consider?

The cash is okay. The land is a bad idea. When you sell the land, you pay capital gains tax on the difference between the sale price and your tax basis. If your mother makes a gift to you of the land, then you get her low tax basis. If she makes the gift when she dies, then you get a stepped-up tax basis equal to the value of the land on either the date of death or the date six months later. Then if you immediately sell, there would be no capital gain and no capital gains tax. If your mother has owned the property a long time, her tax basis could be very low and produce a large capital gain, if she makes the gift while she is alive. If your mother and her spouse owned the property and her spouse recently died, then she got a stepped-up tax basis on his death. If the property has not gone up in value much since the death of her spouse, then she could make the gift now and if you sold the property, there would not be much capital gain. If you're going to hold the property, you might be better off letting her hold it and give it to you when she passes away with a further step-up in the tax basis. Your mother should have a revocable trust to avoid probate and put all her property, including this land, into the trust. Probate takes forever, is annoying, and costs too much. We set up such trusts, provide a pour-over will to cover any property not covered by the trust, convey one property into the trust, and provide you with blank copies of the California statutory powers of attorney for financial decisions and healthcare decisions if she is alive but unable to make such decisions, for $1500.00. If you appreciate this free advice, please remember to refer any of your friends who need legal advice or assistance. Referrals remain our best source of new business. Dana Sack