He held it less than a year, it is ordinary income, so 38% to the fed and 11% to the state (49% total) and with that amount of income on the adjusted gross income line he gets no deductions.
If I only got to keep 2 million of my four, I'd cry all the way the bank. Thanks for the correction. I don't do Schedule D stuff anymore, so I'm not hip to the lingo.
