I live in Maryland if that makes a difference.
In June 2007 my sister passed and she left her house, value low 200k, to my mother and myself, who also lived with her, thru Joint Tenants life tenants in the deed.
My mother passed in November 2009, passing the house to me thru deed.

I am thinking of selling the house this year, 2010, but don't want to get in tax trouble with 2010 tax laws.

As I understand 1/2 half of cost will be the assessed value at the time of my sisters death and 1/2 the assessed value at the time of my mothers death. Is this correct?
Also will the 2010 tax laws change how the cost will be figured?

I will then subtract the cost and sale expenses from the sale proceeds to determine my tax obligation.
Is my thinking correct or will the 2010 tax laws make things different?

Thank You In advance
Howard