Your inherited home is not considered investment income. It's an inheritance of personal property and yes, it may be considered a gift. As mentioned in the thread, it would be very wise to consult with a CPA. Rather than preparing your return on your own, you can ask TurboTax to complete your tax return for you. The mechanics of filling out forms within TurboTax is answerable but your questions certainly are complex.
The following is important regarding gifts: As of 2020 there is a lifetime gift tax exclusion $11.58 million over your (mother's) lifetime, meaning she can gift that amount to you (and anyone else) without incurring a gift tax. If the home is worth less than $11.58 million, you likely won't have to pay any gift taxes, but Form 709 for gift tax form would still need to be filed.
The gift tax applies to transfers of property from one person to another whenever the recipient doesn't pay fair market value in exchange. Again, you would qualify for the exclusion if this is treated as a gift, but you should be aware of this form.
@davismommy08
