Are deferred taxes using 1031 fixed or variable?

[Jim Hwang]

Hi all,

Do the deferred taxes using a 1031 a) reset with each sale, b) snowball cumulatively, c) stay fixed from the original sale, or d) something else?  I just sold a rental in December 2022 and put the proceeds into a 1031 exchange; however, 2022 for me had an abnormally low taxable income, so it would be relatively advantageous to pay my capital gains + depreciation this year as opposed to future years when I would presumably have more income?  I've been posting a lot on this 1031 topic here lately as a first-time user of it with 2 weeks to decide whether to replace or pay tax; thank you for your input!