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We bought a vacation home for $1 million in 2000 and it's doubled in value. How can we avoid capital-gains tax? [Yahoo! Finance]

MetLife, Inc. (MET) 
Last metlife, inc. earnings: 2/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investor.metlife.com
Company Research Source: Yahoo! Finance
We are researching ways to defer some portion of the capital-gains tax. The property is in California. It's actually two adjacent lakefront pieces of property that we purchased in 2000. We paid $950,000 for the lot with the house and $225,000 for the adjacent, empty lot. Based on recent sales in the area, both pieces of property have at least doubled. We're researching the 1031 route for the empty lot, which remains undeveloped. Most Read from MarketWatch ‘We shared all our assets prior to our marriage': My husband inherited his parents' home and didn't put my name on the deed. What can I do? Can Nvidia's stock hit a high after earnings? Options market says it's unlikely. ‘She screamed and raged at me': I have power of attorney for my mother's $3 million estate — but my sister feels sidelined. How do I get her off my back? ‘My son gets zero': I'm leaving $1 million to my daughter. My son said he'll convince my ex-wife to leave everything to him. Should I split my assets 50 Show less Read more
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