Seven years ago, my mother gave my brother and I each a 33.33% ownership in her condo. She retained a third ownership for herself and continued to live there until moving into an independent living residence. We just sold the condo for a net of $75k...do my brother and I each have a capital gains tax liability of the $25k we each gained? The cost basis was zero. ...On regards to the look-back...My brother deposited the $75k into moms account - should he have deposited $25k in her account and the other $50k in a joint account for me and him? (we want to use the money to help her with expenses if she needs, but don't want it to be penalized if she needs to go into a nursing home. Is it too late?