Capital Gains on home gifted through bargain and sale deed
My parents bought our home in Oregon for cash in 2017. My husband and I have lived in it continuously since then, and in December 2021 my parents transferred the home into our names via a Bargain Sale and Deed, for $0. If we were to move prior to December 2023 would we still be paying capital gains tax on the profit, since we had not owned the home for at least 2 years, although we have lived in the home for 6 years?
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