That's 50k a year gone and you are losing tax write-offs and equity potential.

The majority of my income comes from my rental portfolio.

You filed two full year tax cycles and the numbers are similar (no greater variant than 1%) they maybe yes.Generally depreciation is added back as income BUT only the 40% portion you own not all of it.

Your requirements to defer all tax are to purchase at least as much as your net sale. 

@Tinia JamesIf you receive a 1099 showing income from one of your deals, you have to file a Schedule C to report that income.

Not only were tax shelters stripped of their tax deferral capabilities, but they were stripped of it RETROACTIVE, allowing the IRS to recalculate tax shelter investors income going back 7 years.  

Essentially you are creating future tax free income by being able to roll over these losses.If your income is between $100,000 and $150,000, a portion of that $150 loss is deductible and the rest rolls forward.If your income is less than $100,000, your loss is fully deductible - and THAT's the cool thing about rental income. 

A 1031 exchange would use all of the tax in the purchase of your next property.

@Kevin Wood: For those temporary and permanent differences accounts, move them to Other Income and/or Other Expenses and see if you the reports works for you. 

Not to mention the tax benefits it allows.