Deductions & credits

I really appreciate it! This stuff is crazy confusing, I just want to help out my mom! So, forget about the loss, not important to me. I think I understand but just want clarification. If the house appraises for 110,000 and I sell it to them for what I owe, $65,000, the $45,000 difference would be tax free for them because my wife and I can each gift each of them up to $14,000 in a tax year. So, the 45,000 would fall under the gift threshold, correct. The only other consideration I see is that capital gains when they sell would be based on 65,000 selling price. However, in that market, they will never approach the top end of the capital gain threshold so it should be a non-issue. If all this is correct, the only other question I have is this: will the IRS come after me for trying to get around capital gains by selling at a loss?