2007 estimate of Sch D

[Marie]

I want to estimate for clients a ball park figure when they are selling LT capital gains. I run the numbers on a duplicate return ( not changing the deprec), but what can I do about the tax liability. Do I take the tax and subtract the 5% amount from the total tax liability? Isn't that the 0% this year (2007)? I'm trying to figure out approx how much more tax he will pay taking it all in one year as opposed to two years (installment sale). For 2008, isn't the 5% rate 0% also. It looks as though he will save the amount in the 5% bracket twice running it as an installment sale. Does anyone have a good way of doing this? Any help appreciated.

Thanks

[Marie]

Sorry, 0% rate not starting until 2008, but generally the question still the same. How to estimate LT gains in 07 and 08.