@motokerry wrote:
So I am not sure if your answer applies. I do wish the recognize the capital gain and taxes of the property sale; hence the amended tax return.
I apologize if the answer was not clear, but based upon the language of Section 1031 and the court cases, Section 1031 is mandatory (i.e., you cannot elect out of it) assuming the transaction otherwise qualifies.
In short, you cannot simply choose to recognize gain if the transaction falls within Section 1031.
