How to calculate potential profits

[Leor Fay]

Hey everyone, 

I listed a property at 168K
I got a cash offer for 140K w a 2 week closing.

Realtor Fees 4% (-$5600)

Closing Fees 1.5% (-$2100)

Remaining Mortgage ~ 73K (-$73000)

That leaves me at $59300

If i substract my Initial Investment ~38K (-$38000)

That leaves $21300. (If I get to keep this)

Where does the capital gains tax come into play in this math?! And how much will it be?!

Overall, I feel like this is not in my favor, but could use some tips.
Please advise, BP fam! Thanks! ✌️