Long-term capital gains tax calculation

[Sheri Lowrance]

Can anyone confirm definitively what the calculation is for determining the federal capital gains tax on the sale of a long-term asset (rental property) for someone in the 15% capital tax bracket?  I tried to get this information from my CPA but he couldn't give me an actual calculation, instead, he created a "mock tax return" using last year's data, but when he did it he INCREASED my tax bracket for all my taxes, and everything I've read states this should NOT be the case.

I think the calculation should be this: Capital Gains Tax = (Sales Price - seller costs (R.E. agent fee & other closing fees) - original purchase price - capital improvements) x 15%. Depreciation Recapture Tax = Total depreciation claimed on all tax returns for that property x current individual income tax rate (which is NOT increased due to the sale of the property)..