These are things they do right before a recession (not the buying, that was a "once in a lifetime" event that they recently said is now the new norm to manipulate the market and they have been very unsuccessful doing so unless the goal was to saddle the tax payers with more debt and give it to bankers)

Is it possible that you only caught one of two tax payments in your calculation?

Thanks for the mention Dave.Jim, few things:1) Taxpayers cannot claim the Section 121 exclusion for a principal residence acquired in a like-kind exchange subject to the rules of IRC Sec. 1031 if the residence is sold during the five-year period after the date the residence was acquired.2) the non-qualified period before the exchange will tacked on to new one after the exchange.

When a non tax paying foreign entity sells property in the US the IRS requires that 15% of the sales price be withheld in anticipation of a recognition of gain. 

Dear Taxpayer, . . . . . . and you know that whatever follows can't be good!

Item List Type:  Sales Tax Item, Account:  Sales Tax Payable.  

As a us taxpayer you can ask exchange non US property for non US property.

Opportunity Zones can be used to minimize tax payments or even reduce to zero.Opportunity Zones were created under the TCJA to; Allow U.S. investors to defer all 2018 capital gains for eight years if the profits are reinvested and held in an Opportunity ZoneLower the amount of capital gains taxes resulting from the sale of a capital asset by 10% or 15% if the proceeds therefrom are held for five or seven years, respectively, in an Opportunity Zone project.Provide for a full exemption from capital gains taxes on all future capital gains on the invested funds if an investment is held for ten years following investment.

The taxpayer/investor/person purchased the property on November 1, 2018.

@Drew Taylor, As it stands the JV is the tax payer for that property.