Your mom inherited the house in 1987 and her basis became the fair market value. You can check online for tax records. You might even find a real estate agent with some records of the neighborhood and prices there. From 1987 to 2022, was the house a rental or did family live there?
Let's assume the house was a rental. She should have tax records since it is an asset and they should be kept until 3 years after asset is disposed. Take a look at her 1987 return and find the 4562 for the value used. From 1987 to 2022, the house would be fully depreciated so the only basis left would be land value from 1987.
To determine her income from the house: Sales price $431,434 - 1987 land value. - 1/2 qualified selling expenses. See Sale or Trade of Business, Depreciation, Rentals - Internal Revenue Service.
If the house was not a rental, sales price- inherited value - 1/2 qualified expenses.
To determine quarterly payments, let the program do the work:
Form 1040-ES, Estimated Tax for Individuals
Can TurboTax calculate next year's federal estimated taxes?
Can TurboTax calculate the estimated payments for next year's state taxes?
@jrolls
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