Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
Thank you for your question, and thanks for using JustAnswer.com. This is how I understand your situation: You and your 2 siblings owned a house along with your father. You were on the title before the death of your parents.
When your parents put you all on the title, you got along with that their basis in the house. If the house was purchased for $50,000 in the 70s, that means that you would have a $100,000 capital gain
split three ways.
Had your parents not put you all on the title during their life, you would have a basis in the house equal to the fair market value at the time of death, at which point your capital gains would be little to none.
Please let me know if you need anything additional. Thanks again for using JustAnswer.com and have a happy and safe New Year.
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You should be aware that your question, as with most tax questions, can never really be answered completely...addressing all the permutations; that is because of the many assumptions that have to be made I have done my best to determine what I think you are asking and answering it in the most direct and understandable manner possible. If, however, after reviewing the questions, you have any uncertainties or further questions, please do not hesitate to ask.