1031 prior to liquidating

[Sagar Mata]

Newbie question and completely hypothetical, just trying to wrap my head around how all this works.

Say I have a property "A" I bought for $1,000,000 and it appreciated to $2,000,000 after 5 years. Assume used as an investment rental property.

If I wanted to liquidate this asset and did a 1031 for a property "B" costing $2,100,000 and then a year later sell that property "B" for $2,150,000 would I then pay taxes on the $50,000 only? Or (assume the depreciation was about $180,000 for the 5 years of property "A") would it be the $50,000 from property "B" + 180,000 depreciation from property "A" so $230,000?

Thank you in advance for your help.