The sale is happening in 2018, but I entered it into 2017 TurboTax to calculate about how much we'll owe next year (and then I deleted it). I estimated a $34k gain (if the original purchase price was $30k in the 1990s and his share was $10k, and now his proceeds from the sale were $44k). With $34k in gains TurboTax calculated $9,000 federal tax, more than 26% (+ state tax). Could this be correct? I thought I'd read capital gains were usually taxed at no more than 15%
