1033 Exchange Experience
JLK Rosenberger has significant experience assisting New Mexico 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 – New Mexico
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 New Mexico 1033 Exchange Team
JLK Rosenberger provides 1033 exchange and involuntary conversion services to eligible property owners in New Mexico. 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 New Mexico Natural Disasters
New Mexico’s natural disaster history is shaped by its arid climate, mountainous terrain, and seasonal monsoon patterns, creating a mix of droughts, wildfires, flash floods, severe storms, and winter weather events that periodically affect communities and infrastructure across the state. Prolonged drought has been one of the most persistent challenges, stressing agriculture, ranching, and water resources, while also increasing the risk of large-scale wildfires such as the Hermits Peak/Calf Canyon Fire, which burned hundreds of thousands of acres and highlighted the vulnerability of forested regions in northern New Mexico. Summer monsoon seasons frequently bring intense rainfall that can trigger flash flooding in burn scar areas, desert arroyos, and urban corridors like Albuquerque, causing road closures and property damage. Severe thunderstorms occasionally produce hail, lightning, and localized tornadoes, particularly in eastern parts of the state where plains geography allows stronger storm development. Winter storms in higher elevations can disrupt transportation and tourism, especially around mountain communities and ski areas. Earthquakes are relatively rare but have been noted in southeastern New Mexico, sometimes linked to oil and gas activity.