Your "basis" (cost) is the Fair Market Value when your last parent died. You are only taxed on the gain (profit). In other words, if the Fair Market Value on the date of death was $120,000 ($60,000 for your half), you would have $0 gain if you sold it for $60,000. That means no tax.
However, you may consider a tax professional and/or an estate lawyer to really see everything. It needs to be determined if the house and other assets went directly to you, or to the "Estate". If they went to the Estate, the Estate may need to file a tax return.
