I bought a house in 1994 for $68000. In 2008 I refinanced it to pay off my ex wife and to upgrade the kitchen. In 2010 I began renting the house out. After doing $22582 in renovations I sold the house in November of 2016 for $184000 but still had a balance owing on the mortgage of $89560. After paying closing costs his netted me $68200. What is my Capital gains tax? The tax laws and terminology are confusing at best.

The formula is "amount realized" minus "adjusted basis" equals "gain."

Amount realized is generally the sales price less the sales costs.

Adjusted basis is the amount you purchased the property for plus repairs/improvements.

The mortgage amount doesn't come into play typically.