You pay income tax on your profit when selling correct?

[Michael Plante]

Ok I THOUGHT I knew about these things after buying and selling real estate for many years 

BUT am always eager to learn 

except when doing a 1031 exchange you need to pay income tax on profit when you sell a property correct?

To me these seems like a straightforward definite YES!

BUT I’m the past 2 weeks I’ve spoken with 2 other real estate investors who SWEAR they just put the profits into other property and don’t pay any income tax !?!?

Seems Crazy to me 

yes yes I know ask an accountant.  Which I will.  But wanted to get feedback here