Deductions & credits

So I have to report 2/3rd of the capital gains, not half?   oh boy.

 

So 260/3 = 86.66 *2 = $173.33?   I'm assuming it's gong to be 15% long term capital gains tax on this?  So $26K?

 

Also, what happens if we decide to not claim the profits and give it all to my Farther in law?

 

Thanks,