Tax and other implications of land trade
If I trade property I own in exchange for a property owned by a non-profit organization, what do I need to consider regarding taxes or anything else that could impact the transfer? How should we structure the transfer, deeds, etc.? No money will be exchanged, just my 2 lots for their 1 lot.
Plans for the property I'll be receiving are still up in the air. Might sell, might keep and lease or develop. Not knowing the final plan, I'm not sure if 1031 is a good option. I'm still learning.
Someone told me to treat the transfer as 1 for 1, and then treat the 2nd lot separately as a gift donation.
What's the best option?