1031 exchange is ultimately a tax deferral. It's not "avoiding" the tax. Just fyi. But yes, likely the only way to not pay the tax now. Crucially, the property must be held for "productive use or investment," essentially it must be business property that you sell to buy like kind business property.
46_und_2 t1_j9vq22g wrote
Reply to comment by ScrollinMyLifeAway in LPT Request: how can I avoid capital gains tax (20%) on land sold (<$500,000)? by ScrollinMyLifeAway
1031 exchange is ultimately a tax deferral. It's not "avoiding" the tax. Just fyi. But yes, likely the only way to not pay the tax now. Crucially, the property must be held for "productive use or investment," essentially it must be business property that you sell to buy like kind business property.