Paying taxes on a gifted privately sold vehicle

I've read/heard differing answers on this.

Car was initially bought and paid for by parents. Years down the road, the car was put under my name by completing an "act of donation of a movable" and title transfer.

Typically when selling, it's at a a net loss, and therefore no taxes are owed.

Now, I am selling the car for a profit bc I did not originally pay for it. What, if any, taxes am I responsible for?

From what I've gathered, the cost basis is either what the parents initially paid, or what the vehicle was worth when it was gifted. Either way, it would be a net loss and no taxes owed?

How is the value of the cost basis determined?