uml1576
Returning Member

Need help to figure capital gains on gifted real estate

My mom inherited a home in 1985 that had no mortgage. In 1987 she added my name to the deed. I know she did not make any improvements prior to adding my name. The home was sold in 2022 as my mom is now in assisted living. Is the cost bases 0 since she inherited the home? She made many improvements after my name was on the deed but I have no receipts. I do not know FMV from 1987. Do I just 0 as my adjusted basis since that was what she paid for the home?