Form 8824, 1031 Exchange, Deferred Gain Amount

[Eric C.]

On 8824, Line 24, Deferred gain amount.  Is this amount the tax I would have owed if I just sold the property and didn't do a 1031 exchange ((ie. capital gain amount + depreciation recapture) - (closing costs and fees))?   

[Steven Hamilton II]

No, it is not the amount of tax, it is the amount of actual deferred gain as the line on the form says....