Over the years, I’ve handled dozens of like-kind exchanges. I’ll tell you two things:
First, you don’t want to get sophisticated tax advice from an online message board. Sec. 1031 transactions are very complex and will collapgse, with bad consequences, if not done correctly.
Second, the exchange isn’t as simple as selling one real estate property and using the proceeds to purchase another property; this describes a taxable event. A tax-deferred, like-kind exchange contains the disposition and acquisition as mutually-dependent parts of an integrated transaction. You’ll need to engage an independent third party (qualified intermediary or accommodator) to handle both sides. The sales proceeds get “parked” with the third party, never held by you, and the third party buys the replacement property on your behalf. So, please don’t sell your land, on your own, thinking that you can roll over the gain into another property.