<human>: Can you succinctly summarize the text in 1-3 sentences?

I've been lurking on this subreddit for a while now and feel that I have a decent, but unrefined understanding about making the money that I have, work for me. My taxable income working part time this year amounts to about $10k ($7k after income tax).

My question is regarding a stock I've owned since my dad first gifted it to me years ago. Since my dad initially purchased it, it's increased from roughly $50k to $100k (a capital gain of $50k). Is it wise to sell $50k worth of the stock by the end of the year ($25k capital gain) to maximize my income up to the edge of my tax bracket so the income I receive from the sale of stock is taxed at 0%? I plan on rebuying the stock immediately after in 2015, but I'm wondering if I should sell now and report the gain for tax purposes for this upcoming tax cycle.

On a related note, the stock is under both of me and my father's names. If I sell the stock, how would it affect us in terms of the taxes we pay? (My dad is retired, but receives a pension of about $40k).
<bot>: Have $10k income with a stock that has appreciated $50k. Is it wise to sell some of the stock then rebuy next year so I pay 0% on the capital gain?