what is the reason for the sale?
since you did not own the house for any two out of five years before the sale, normally there would be no home sale exclusion available to you.
however, a reduced exclusion may be available to you if the reason for sale is any of the following
1) health of either you or your mom, if the primary reason for the le is to obtain, provide, or facilitate the diagnosis, cure, mitigation or treatment of a disease or
2) the primary reason is a change in place of employment. the new place of employment must be at least 50 miles farther from the taxpayer's home than the former place of employment was or
3) unforeseen circumstances. this is a wide open category so the reason for the sale is critical.
your basis in the home is your dad's basis on the date of the gift
2)
