Property held less than 366 days, possible 1031 exchange?

[Diem Tran]

I was thinking about selling a commercial property that I just bought 4 months ago.  I understand if I sold it before 366 days of ownership, it's a short term capital gain tax. But if I did a 1031 exchange, there wouldn't be a short or long term capital gain, right?

Thank you for any answers to this question.