I'm sorry for taking so long to reply, but I do have a follow up question.
Maybe my use of the word "deductible" was incorrect.
To calculate the amount of capital gains from the sale of the house, I would take the basis of my mother's house (the price she bought it for in 2009, she made no significant improvements that I have records for), and then calculate the net selling price (actual selling price in 2020 minus sales closing costs paid by me), and the capital gain would be the net selling price minus the original purchase price. Is that correct?
Source: https://www.fool.com/millionacres/taxes/capital-gains/will-you-pay-capital-gains-taxes-second-home-s...
