@pocketsoflearnin let's assume you deeded it to him as a gift and now he deeded it back to you as a gift and there were no other considerations.
There was no sale, so no capital gains tax.
However, your cost basis remains what you originally paid for it, so when you sell it is when capital gain tax would be due.
Who is living in this home? You wouldn't be eligible for the $250,000 (single) / $500,000 (joint) capital gain exclusion until you lived in it and owned it for two years into the future. Even if you lived in it for the past 6 years, you did not own it, so not eligible for the exclusion.
