hi my dad gave me his 1/3rd of his mothers property which I received a check for 60.00 along with my aunt and uncle they were in such a hurry ti sale that they sold it for 40.000 less than market value and filed as a 1099 on our inheritance how much will I owe

If your father GAVE it to you, you must use 1/3 of what the property was worth when your grandmother died. Assuming you know WHEN she died and the property address, you can contact local real estate professional who, for a small fee, will give you the fair market value (FMV) on the date of your grandmother's death.

I assume the "60.00" figure is in fact $60,000. Let's assume the FMV of the property at your grandmother's death was $150,000.

One-third of $150K is $50,000, which means YOUR share of the capital gains is $10,000.

How much you owe in taxes depends on how much your other income was in the year you received the $60,000. The tax could be as high $2,800 or as low as ZERO.