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@abctax55 wrote:

It IS lower... depending on all other income.  20% is the MAX on just the gain; the other income can be pushed into a higher bracket due to such a large gain.  As Susan said, you should spend a bit of time running thru the Sch D worksheet of the computation of the tax.

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And there will also be the side effect of making 85% of SS taxable (as opposed to the 0% she's used to) so the effective tax rate will be higher than the marginal capital gains tax rate.

But I have trouble feeling too bad here, she made over $1M.