In general, an exchange 1031 (also known as the exchange of the same nature or starker) is a company exchange or investment property for another, under the US tax code, most swaps are taxable as sales. In fact, the IRS has actively gone after the barter while attempting to tax the merchandise and services.
One exception to Article 1031 is that swap is usually fully taxable.
If you reach 1031, you will not have any taxes or limits on the exchange at the time of the exchange. Actually, you can change the form of an investment (like the IRS sees it) Receipt or recognition of capital gains, in this way, your investment is increasing on a tax-deferred basis. If you qualify, there is no limit on the number of times or how often you can do 1031.