1033 Exchange Experience
JLK Rosenberger has significant experience assisting Los Angeles and California taxpayers navigate the 1033 exchange process. We have worked with dozens of property owners providing necessary guidance, managing the timeline, and filing the necessary tax reports. Beyond the practical experience, our team members undergo ongoing technical tax training to stay current on the latest regulatory changes. The result is a client centric process that prioritizes tax efficiency and savings during the property replacement process.
1033 Exchange Services – Los Angeles
What happens next?
- Eligibility Overview – In this step, the focus is on determining that your situation qualifies to conduct the exchange. Our team reviews the property basis and compensation received and calculates the potential capital gain and the amount needed for a full deferral.
- Replacement Property Guidance – Our team reviews the specific details about selecting a replacement property including the “similar or related in service or use” standard for replacement property. This ensures the new asset qualifies for the exchange. While you focus on finding new property, our team ensure your selection aligns with requirements.
- Timeline Management – Our team works to ensure the critical replacement period (2 years for destruction and 3 years of condemnation) are followed. We also assist with documentation and strategies to maximize time for replacement.
- Tax Reporting – In this step, our team prepares and files all necessary documents with the IRS including Form 4797 (Sales of Business Property) and other required documentation. For those who have already paid tax on a gain but are still in the replacement period timeline we can help recover those taxes.
- Basis Adjustment – Finally, we calculate the adjusted basis of the new property including the deferred gain. Our team will also provide guidance about the most appropriate depreciation method for your new property.
Contact Our Los Angeles 1033 Exchange Team
JLK Rosenberger provides 1033 exchange and involuntary conversion services to eligible property owners in Los Angeles and California. Interested in learning more about our 1033 exchange services? If you are interested in learning more about our services and how we can help you, complete the form below and a team member will follow up shortly.
About Los Angeles Natural Disasters
Los Angeles has experienced a series of notable natural disaster events that have shaped how the region plans, builds, and responds to risk. Earthquakes are among the most defining events in the city’s history, most notably the 1933 Long Beach earthquake, which led to sweeping reforms in California’s building codes, and the 1994 Northridge earthquake, which caused widespread structural damage, freeway collapses, and billions of dollars in economic losses across the San Fernando Valley and greater Los Angeles area. While large earthquakes are infrequent, these events reinforced the reality of seismic risk and permanently changed engineering, emergency response, and insurance practices throughout Southern California.
Wildfire events have become increasingly prominent in recent decades, particularly as development has expanded into hillside and wildland-urban interface areas. Fires such as the 1961 Bel Air Fire, the 2007 Griffith Park Fire, the 2017 Skirball Fire, and more recent large regional fires affecting Los Angeles County have destroyed homes, forced mass evacuations, disrupted transportation corridors, and degraded air quality across the metro area. These fires often occur during periods of extreme drought and Santa Ana winds, turning seasonal events into large-scale emergencies with long-term recovery impacts for communities and insurers.