1989 turbo supra
 

I just bought an 89 supra turbo, engine is pretty solid, but it revs out really high before it shifts gears, could the tranny be the problem or anything else?

There's a button on the console which controls how the tranny shifts. If the ECT is on, it'll shift at higher RPM's than with it off. Check the switch to see if it's On or Off and go from there to diagnose the issue.

It might be the sport performance button lol...