My mother recently died, Mom and I had a quit claim deed completed 1995. Mom's will states to divide all assets among four children. When the house sells how do I share taxes among my siblings?

[daflob2013]

Is there anything that should be done before mom's house is sold so I don't get hit with all the taxes?

[Hal_Al]

"Mom and I had a quit claim deed completed 1995". I assume she deeded it to you.

The usual rule, for a gift, is that the recipient's basis is the giver's basis (what you mother paid for it). But there is an exception for the gift of her home, where she retained the right to live there ("life estate"). (seehttp://www.njelderlawestateplanning.com/2010/02/articles/estate-and-inheritance-tax/life-estates-est... which states in part "If you give away an asset and keep a life estate in that asset..... the cost basis of the house is "stepped-up" to the value of the house on date of death [IRC 2036]")
More info: http://www.law.cornell.edu/cfr/text/26/20.2036-1

Sale of Inherited Home
Sales of real estate are usually reportable on your tax return, especially if a form 1099-S is issued. There will most likely be no capital gain and therefore no tax. Any capital gain would be on the difference between what the house was worth on the date of the decedent's death (your "cost basis") and what the house sold for.  Depending on what the house is used for between the time your mother died and the sale, you may even show a capital loss on your tax return, after the expenses of sale.

That said, any money you give the others is technically only a gift. As owner, the sale goes entirely on your return. The simplest way to handle it, if there is a gain to report, is adjust the amount you give them, for taxes paid. There is a way to pass the taxes on to the others, but it requires them to agree and takes  a work around in Turbotax (reply back if you need more info)