After a 1031 exchange, how is any cash {boot) taxed if rental property held for many years? Long term gain ?

The exchange did not leave enough money (after several properties were exchanged) to make additional purchase so balance of $ received in cash.After a 1031 exchange, how is any cash {boot) taxed if rental property held for many years? Long term gain ?You are correct. You recognize long-term capital gain to the extent of boot received.After a 1031 exchange, how is any cash {boot) taxed if rental property held for many years? Long term gain ?Boot is current income