A 1031 exchange can be a great way to defer taxes when selling real estate or other investments. However, the 1031 comes with many restrictions and tight timeframes as well. For some people, it may not be worth the hassle to complete a 1031 exchange and they may want to just pay the taxes owed. This calculator can give you an idea of how much in taxes you would pay if you decide to sell outright without completing a 1031.
For specific numbers on your situation please talk to an attorney or accountant.