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Get a 1033 Exchange Eligibility Review –  (Des Moines)

Find out if your involuntary conversion qualifies and how much tax you may defer.

If your Des Moines property was destroyed, condemned, or involuntarily converted, you may be able to defer capital gains tax through a 1033 exchange.

We help property owners:

  • Confirm eligibility
  • Calculate potential gain and deferral amount
  • Manage deadlines and documentation
  • File the required IRS forms

1033 Exchange Experience

JLK Rosenberger has significant experience assisting Des Moines and Iowa 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 – Des Moines (IA)

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 Des Moines 1033 Exchange Team

JLK Rosenberger provides 1033 exchange and involuntary conversion services to eligible property owners in Des Moines and Iowa. 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 Des Moines Natural Disasters

The City of Des Moines has experienced a long history of FEMA-declared natural disasters, reflecting its location in the central Midwest where river flooding, severe storms, tornadoes, and winter weather events are recurring risks. Among the most significant disasters affecting Des Moines was the Great Flood of 1993, when prolonged rainfall across the Upper Midwest caused the Des Moines and Raccoon Rivers to overtop levees, inundate downtown infrastructure, shut down water treatment facilities, and displace thousands of residents. This event led to widespread federal disaster assistance and long-term changes in floodplain management and levee improvements throughout the metro area.

Flooding has remained the most frequent cause of FEMA disaster declarations in Des Moines. In 2008, record rainfall again caused catastrophic river flooding that submerged large portions of the city, damaged bridges and roads, impacted hospitals and universities, and forced extended closures of businesses and public services. Federal disaster declarations following this event supported massive recovery and mitigation efforts, including investments in floodwalls, riverbank stabilization, and stormwater management systems designed to reduce future risk.