1031 exchange just profits or all proceeds
I bought a house for 60k and am selling this month net me 80k and want to do a 1031 exchange. Do I have to escrow the 20k profit only or the whole 80k proceeds from the sell? Do I have to buy a property to defer taxes for 80k or more or just 20k?
I buy and hold and never have had to deal with selling a house and deferring taxes.