capital gains

[terimac4]

My mother in law sold her house in CA for a profit but it was within the allowed amount without being charged capital gains tax. She bought a house here in North Carolina for cash about 4 months ago. She now wants to sell and move back to California but rent an apartment. I doubt she will have any profit on this new house, but would there be any tax repercussions for her to sell so soon?

[M-MTax]

If she doesn't hold the NC house for more than a year, any gain would be taxed as short term capital gain which is subject to ordinary income tax rates......not long-term capital gain tax rates.