Ok well, my Mother sold her peice of land, and got $50000 for it, she wants to give it to me but i want to kno if i will get charged any taxes for it, and if so how much Thank You.

You have two taxable events to consider:

#1: The sale of the real estate might result in a capital gain. The taxable amount on the sale is any profit (gain) made, sale price minus purchase price minus any fees paid by your mother at time of purchase or at time of sale. If the real estate was her personal residence, the first $250,000 of gain is tax free (double that if she was married). She pays the capital gain tax, you don't.

#2: Taxable gifts. She should give you less than $12,000 per year in order to avoid being taxed on gifts. Over that amount and you get into the complicated and expensive "wealth transfer tax", currently at a rate of 46%. She pays the gift tax, you don't.

(This is one of the taxes that Bush has eliminated--the gift tax, the estate tax and the generation-skipping tax. All three of them disappear from the tax code in 2010. In 2011 they reappear because his law expires. If you want to get rid of this tax, you have to lobby your congress people to make the tax cut permenant.)