It is true that if your income is under $80,800 and you file as married-joint, there is no capital gains tax on long-term capital gains. However, since you sold rental property, you will have to treat the depreciation you where allowed to deduct on the property as ordinary income up to the amount of your gain on the property, and as such that portion of your gain will be taxed at ordinary tax rates, with a limit of 25% tax rate.
For instance, if your allowed depreciation was $10,000 during the time the property was rented, and you had a gain of $50,000 on the sale, $10,000 of your gain would be taxed at ordinary tax rates, up to a maximum of 25%.
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