The house does not belong to you until the time of her death. She is still alive.
What Is a Life Estate?
A life estate refers to property owned by an individual during their lifetime and prevents beneficiaries from selling the property before death.
A life estate allows you to use the stepped-up basis if the previous owner dies. If your mother was still alive at the time of sale, then this was a gift. The basis of a gift is the adjusted basis of the donor at the time of the gift.
In addition, there is no loss allowed on the sale of a personal use home.
