Answer to question 1. Generally, Money received from selling inherited property, With the presumption that this is non US property, there is no US tax exposure on that money once you have it in the US, , no report required if the FMV does not exceed $100k. Yes, there might some local India estate tax, but not US.
Answer to question 2. Generally, In the US the giver is responsible for the gift tax, if any. There is a threshold. So long your parents are not US person(I.e., US citizen, or resident alien etc); you as the recipient is not liable to pay tax on gift received
Question. So the intent of the money you gave to family member was not as a gift. It was a loan in kind. Since you have already pay gift taxes on it initially, you can try asking for refund by amending the tax return of the year you paid the taxes and attached a reasonable cause explaining that the money was not intended to be a gift. If however it was intended as gift when you gave the money, you getting it back now would just be as if you are receiving a gift in kind. You are only required to report it to the IRS if it exceed $100k during the year
