this is an income tax forum since Turbotax does not do gift tax returns. but the info you provided and the
questions are straightforward so
inherited a property from my father in 2003. The property was appraised at $121,500 at that time for my basis.
so that + any subsequent improvements
The 2022 current appraisal is $230,000 Value at date of gift
sold for $115,000
so the gift is $115,000 FMV vs sales price.
