Pay taxes on profits from land sale?

[Max T.]

If I sell a piece of land I would take some of the profits and use them to refinance a rental property I own. The rental was purchased with an FHA loan but it is now tenant occupied. The idea is That this will improve my cash flow by lowering my PITI and eliminating the PMI altogether. It will also improve my debt to income ratio and allow me to use the FHA program again in the future. My question is, do I need to set aside a portion of the profit for income tax? I am selling an investment property to refinance a property I already own and I know that the 1031 program is for when you take the profit from a sale to buy another property.