Is a small inheritance from my mother of $20,000 subject to capital gains taxes?

The inheritance ITSELF is not subject to capital gains taxes.

If you inheritaed an asset (say a home), then sold the home several years after you inheirted it, THEN you may be subject to capital gains taxes.

Good answer from ATE. If you ever do sell the asset, make sure that you use the appraised value at the time of inheritance. @ stock, real estate, etc. as your basis.

An excellent point!

Well said, Mobea!