Capital Gains Tax Laws Explained 
If you have a short term capital gain you will be taxed at your normal tax rate. However, if you have a long term gain you will be taxed at 15%. If you are in a tax bracket of 14% or less you'll be taxed at 5%.
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What is Capital Gains Tax?
If you made a profit on the sale of your long term capital asset then the tax due will be much lower than on your short term capital gains.
How To Avoid Capital Gains Tax In 2009, 2010
This is more or less a property swap. Since there is no income that was increased you are able to put off capital gains tax until the property provides you some type of income.
How Much is Capital Gains Tax in 2009, 2010
Currently if you are in the 10-15% tax bracket as a taxpayer then you do not have to pay anything on your long-term capital gains.
How much is the Capital Gains Tax Rate in 2009, 2010
If you hold onto it for one year or less then, it is considered a short term capital gain or loss.
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Kalee's Site - Capital Gains Tax on Real Estate in 2009, 2010 | NowPublic News Coverage
These costs will be part of your Gain calculation when determining if tax is owed on the sale. Below is an example of how the Gain or Loss is calculated.
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Long Term & Short Term Capital Gains Tax Rate 2008, 2009 - Mixx
Your capital gains tax rate will be figured out depending on the holding period and the type of investment asset
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Tip: Long Term & Short Term Capital Gains Tax Rate 2009, 2010
Long Term Capital Gain longer than one year...
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YouTube - 2009, 2010 IRS Federal Capital Gains Tax Law Information
IRS Federal Capital Gains Tax Law Information
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Capital Gains Tax Bracket for 2009, 2010
Also keep in mind that your capital gain is subject to state income tax as well as the federal capital gains tax.