<<They put their home in my name before passing.>>
If your parents quitclaimed their home to you before their passing, for tax purposes it is NOT treated as an inheritance.
The importance of this is that when you sell, the cost basis of the property will NOT be its FMV at the time of their deaths. Instead, it will be their original cost of the home (plus capital improvements). Unfortunately this can leave you with a much larger tax bill than if they had left the property to you after their deaths.
https://www.nolo.com/legal-encyclopedia/question-can-father-quitclaim-his-property-28149.html
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
