@Jsimms1337 -
yes, the cost basis from the 1992 purchase is the $50,000 ($200,000 *.25)
yes, 25% of the improvements can be added to the cost basis
25% of the selling expenses can be subtracted from the sales price ($176,000 - your share)
the net is taxed at a capital gains rate.
hard to say how much to pre-pay, but 15% of the result of above would be reasonable (don't forget to consider state taxes)
unlikely this qualifies for a step-up as it was QCD prior to your parent's passing. It would be worth discussing with a local lawyer.
