<prompt> Human: After doing our taxes this year all deductions and write offs applied, my wife and I have a combined income of 62K. When we add the proceeds from the sale of a house she got from her father in July of 2014, our accountant is telling is we have to pay what amounts to about 36 income tax on the funds received from the sale of the property. Heres a breakdown of what that sale looks like:Sold for 72KExpenses were 14K property taxes, closing costs, etcNet gains 58K.Am I missing something? Everywhere I read, it states that on capital gains on the sale should be around 15 tax if we add the 58K to our income, it bumps out of the 10-15 bracket and into the next highest one. She kept the property for two years, which I know doesnt have any bearing for taxation purposes since the house was not our primary residence.Im supposed to meet with him later this week but wanted to see if I should seek another accountants services. Im just not seeing why were being taxed so high on the proceeds. Sorry for the long post.Any input would be appreciated. Thanks guys.PS. There was no initial expense on the acquisition of the property. All that was done was transfer of deed and at that point, my wife became the owner, responsible for taxes and such.  <response>: Get a new accountant, he doesnt understand the difference between capital gains and income. 