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Get a 1033 Exchange Eligibility Review –  (New York)

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

If your New York 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 New York 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 York

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 York 1033 Exchange Team

JLK Rosenberger provides 1033 exchange and involuntary conversion services to eligible property owners in New York. 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 York Natural Disasters

New York’s natural disaster history reflects its diverse geography, from coastal shorelines and major river systems to dense urban centers and mountainous regions, resulting in a wide range of hazards that have shaped emergency planning and infrastructure resilience. Coastal storms and hurricanes have had some of the most significant impacts, with events such as Superstorm Sandy causing widespread flooding, power outages, and economic disruption across New York City and Long Island, highlighting the state’s vulnerability to storm surge and rising sea levels. Inland flooding is also common along the Hudson, Mohawk, and Susquehanna river basins, where heavy rainfall and snowmelt periodically damage homes, agriculture, and transportation networks, especially in upstate communities. Winter weather remains a defining risk, with lake-effect snowstorms affecting western New York near the Great Lakes and nor’easters bringing blizzard conditions to much of the state, straining utilities and public services. Severe thunderstorms, occasional tornadoes, and heat waves add to the hazard profile during warmer months, while landslides and infrastructure stress can occur in hilly or aging urban environments.