My parents bought a condo in 2005 for $75,000 and rented it out through 2015. I got married in March 2016 and moved in. I paid the HOA and property taxes to my parents.
My parents gifted this property to me in December 2017. The market value is now $200,000. I am considering selling and using the money for down payment. It is my understanding that I don't have to pay capital gains if I stayed in the property for at least 2 out of the last 5 years. When do those 2 years start, in March 2016 when I moved in, or in December 2017 when my parents gifted this condo to me?