1) correct
2) Turbotax does not include the gift tax return.
the scenario you describe would be eligible for the annual exclusion but will also use part of her lifetime exclusion. unless she used up or will use up her lifetime exclusion there will be no gift tax.
other scenarios such as gifts of future interest, generation skipping transfers and others would require filing and could actually result in a gift tax or what is referred to as a generation skipping tax.
the link includes the instructions should you desire to read it.
https://www.irs.gov/forms-pubs/about-form-709
Generally, you must file Form 709 no earlier than January 1, but not later than April 15, of the year after the gift was made. However, in instances when April 15 falls on a Saturday, Sunday, or legal holiday, Form 709 will be due on the next business day. There are two methods of extending the time to file the gift tax return. Neither method extends the time to pay the gift or GST taxes. 1) By extending the time to file your income tax return. Any extension of time granted for filing your calendar year 2022 federal income tax return will also
automatically extend the time to file your 2022 federal gift tax return. 2) By filing Form 8892.
3) as of now assuming Fair Market Value at the time of the gift is higher than her tax basis yes. the gain would always be taxable but loss depends on the use of the property. if used as your residence, then any loss on sale is not deductible. tax laws constantly change so if you were to sell in 20 years who knows what the laws would be. there is also a complication in the tax laws if FMV is less than her tax basis as of the date of the gift. I will omit discussing this.
4) yes and no since there is unlikely to be a gift tax there would be no gift tax to add.
