You client, unmarried, comes to you with the following set of facts. She is deciding whether to rent her home or to sell it given the hot housing market in California. When talking with her, you learn that she has spent about 7 of the last 12 months living in the home as her only home. But she moved to Hawaii and purchased a home there. She lives in the Hawaii home except when she returns to California for short visits during which she stays in her California house. The California house she is told could sell for nearly $1.5 MM. She purchased her Hawaii home for $$900k. She asks you to explain the potential tax consequences if she were to see her California home in the next few weeks so that she can factor these into her decision as to whether to rent or sell.