1033 Exchange Experience
JLK Rosenberger has significant experience assisting San Diego 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 – San Diego(CA)
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 San Diego 1033 Exchange Team
JLK Rosenberger provides 1033 exchange and involuntary conversion services to eligible property owners in San Diego 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 San Diego Natural Disasters
San Diego has experienced several notable Federal Emergency Management Agency-declared natural disasters, largely driven by wildfire activity, winter storms, and flooding events that reflect Southern California’s unique climate risks. Among the most significant disasters were the large-scale wildfires of the early and mid-2000s, particularly the 2003 Cedar Fire and the 2007 Witch Creek Fire, both of which led to federal disaster declarations. These fires destroyed thousands of homes across San Diego County, caused widespread evacuations, disrupted regional transportation and utilities, and resulted in long-term economic and housing impacts that required extensive federal, state, and local recovery coordination.
More recently, San Diego has been included in FEMA disaster declarations tied to severe winter storms and flooding. In January 2024, intense rainfall overwhelmed stormwater systems across parts of San Diego, flooding neighborhoods, damaging homes and small businesses, and exposing vulnerabilities in aging drainage infrastructure. This event prompted federal assistance for individual households and public agencies, reinforcing the growing flood risk associated with changing weather patterns and urban development in low-lying areas.