Sold property overseas. Did exchange & purchased property overseas with portion of proceeds per tax law of foreign country and paid no capital gains tax on the exchange . There will be no capital gains tax to be paid in the USA on the exchange portion. Right? I am a US resident.

There will be no capital gains tax to be paid in the USA on the exchange portion. Right?

Assuming that this property has not been your principle residence... sorry, but you will have to report the sale on Schedule D and pay tax on any capital gain realized.