I asked about selling inherited property that I actually paid money for and they told me it would.be taxed based on price. Is that sale price minus p

When you sell a capital asset, you are taxed on the difference between its deemed cost to you (which is called "basis") and the selling price. This difference is called a "capital gain," and federal income tax is imposed on capital gains at various rates, depending on the nature of the asset and how long it has been held, often as low as 15%. In general, your basis in an inherited asset is the fair market value of the asset at the time of death of the deceased. Thus, if the fair market value of property was $100,000 at the time of death and you sell it five years later for $200,000, you would pay a federal income tax of 15% of the difference, or $15,000.