1033 Exchange Experience
JLK Rosenberger has significant experience assisting Texas 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 – Texas
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 Texas 1033 Exchange Team
JLK Rosenberger provides 1033 exchange and involuntary conversion services to eligible property owners in Texas. 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 Texas Natural Disasters
Texas has experienced a long history of federally declared natural disaster events under the Federal Emergency Management Agency (FEMA), ranging from hurricanes, floods, severe storms and tornadoes to droughts, wildfires and winter weather. Since 1980 there have been nearly 190 weather and climate disaster events affecting the state that each caused at least one billion dollars in damages, with the most frequent being severe storms and tropical cyclones followed by droughts, floods, wildfires and occasional winter storms, reflecting Texas’s broad exposure to varied natural hazards and high economic losses over decades.
FEMA routinely issues major disaster declarations for storm-related events in Texas; in 2024 President Biden declared disasters for severe storms, straight-line winds, tornadoes and flooding spanning weeks in spring and summer, and for Hurricane Beryl in July 2024, which caused widespread damage and fatalities along the Gulf Coast. During 2023, FEMA also declared a disaster for a severe winter storm that brought extreme cold across the state. In 2025 multiple federal disaster declarations continued for severe storms and flooding, and FEMA designated counties affected by damage from these events.