Capital Gains - Long Term ESPP

[user17715334666]

I sold some stocks that I have purchased with my ESPP - Long Term (I held them for about 10 years).  I made about 12K Capital Gains. 

I don't know if I am entering anything incorrectly as my Federal Tax Return was decreased  2,300 and my State Tax was liability increased by 500 - So the sell of these stocks are representing about 3K in taxes.

My effective tax rate is 15.18%.  I checked schedule D and they are classified Long Term.  Is there anything I need to take special attention when filling this in turbo tax?

[RobertB4444]

The 12,000 also increases your total income so it can and does increase your tax bill on your income even though the long-term capital gains themselves are taxed at 15%.  As long as you have the records that show your basis in the stock for when you purchased it and you have entered that correctly then you should be good to go.

Here is a quick article on how to adjust your ESPP cost basis.  If you have already done all of that you should be good to go.

[user17715334666]

Thank you Robert.  So does it seem reasonable to pay about 3K on capital gains of 12K? If it is then, I should be fine.  I just found very high giving that with my taxable income of about 230 I was paying 40K in taxes. 

[RobertB4444]

I was going to ask what your total income was.  The answer is yes - 15% on 12k is $1800.  Increasing your tax rate on other income to cost $500 more when your total income is 230K is reasonable as well.