If you have capital gains you may want to consider how investing those gains in an Opportunity Zone could save you taxes.  Also, investing in an Opportunity Zone Fund could be a great tax-advantage investment in and of itself.  Finally, you may be doing good for the country because you are investing in an area that could use economic develop and may be under served.

This is a complex approach to potential tax savings and deferral so you should consult your tax adviser before investing in one.  As a primer, you should read the IRS guidance on this approach linked below as well.  Essentially, you may be able to invest capital gains that would be taxable into an Opportunity Zone Fund and then your taxes may be deferred or you could even save a good amount of tax by simply investing the gains there.  Also, if you hold the Fund long enough then you could owe no, or less, tax when you sell the Fund itself.  This could also be an alternative to the traditional 1031 exchange approach and it could even be more tax advantageous.

Read more here on the IRS website here.