🔥 Eaton Fire Tax — Full Intake

Full Engagement
Intake Form

Complete this after your initial consult when you've decided to work with us. Every question unlocks a specific analysis. The more detail you provide, the more precise your return strategy.

⏱ 15–20 minutes
📋 8 Blocks · 42 Questions
⚡ If your Edison settlement agreement is unsigned — complete Block 2 (Edison questions) and contact us immediately. Agreement language on allocation determines tens of thousands in tax. Do not sign without a tax review.
1
Property Classification
Sets the entire framework — every other analysis depends on this
Unlocks: Lane · §1033 · §165
1.1What is the street address of the affected property?
1.2What was the use of this property?
1.3What happened to the structure?
1.4Purchase price and year
1.5Estimated cost of improvements made since purchase
Remodels, additions, major upgrades — these increase your basis and matter for gain/loss calculation
1.6If you owned a rental portion, what was the annual rental income and depreciation taken?
Leave blank if not applicable
1.7How is the property titled?
2
What Money Has Come In
Every dollar received — insurance, Edison, FEMA, ALE — affects the tax calculation
Unlocks: §165 loss · §1033 gain · Open transaction
⚡ If your Edison settlement is unsigned — complete this block then contact us before signing. Allocation language in the agreement determines how much is taxable.
2.1Structure/dwelling insurance — total received or expected
2.2Personal property insurance (contents) — total received or expected
2.3Additional Living Expense (ALE) payments received — from insurance
Hotel, rental housing, meals above normal — paid directly by insurance carrier
2.4Edison / SCE settlement — current status
2.5Edison settlement amount and known allocation (if available)
2.6If Edison settlement has allocation buckets — list amounts for each
Check your settlement agreement. Common buckets: real property damage, personal property, physical injury, emotional distress, lost rental income, ALE, punitive, interest
2.7FEMA / SBA / government assistance received
2.8Employer or charitable disaster relief payments received
Different tax treatment than insurance or Edison — may qualify for §139 exclusion
2.9Is there a mortgage on the destroyed property?
3
Physical Injury Documentation
§104(a)(2) exclusion — can eliminate tax on a large portion of your Edison settlement
Unlocks: §104 exclusion · Agreement language
§104(a)(2) excludes damages received for physical injury from gross income. Properly documented and allocated in your settlement agreement, this is one of the most powerful tools available — but it requires medical records and specific agreement language before you sign.
3.1Did you or household members experience physical symptoms directly caused by the fire?
3.2Were symptoms documented by a medical professional?
3.3Is your Edison settlement agreement unsigned?
If yes — §104 allocation language must be in the agreement before you sign. This is the single highest-value pre-signing action available.
3.4Has your attorney mentioned the tax treatment of the physical injury allocation?
4
Prior Tax Actions
What's already been filed determines what options remain
Unlocks: §111 recapture · Amendment analysis · §1033 clock
4.1Was a casualty loss deduction claimed on any return?
4.2If a loss was claimed — approximate amount and on which return
4.3Was a §1033 election or open transaction disclosure filed on any return?
4.4Approximate household AGI for 2024 and 2025
Used to calculate California's 10% AGI floor on casualty losses and marginal tax rates
5
Personal Property Detail
Contents losses — scheduled vs. unscheduled matters for gain calculation
Unlocks: §1033(h) contents gain · Basis calculation
5.1Did you have scheduled personal property on your policy (jewelry, art, collectibles, electronics over a certain value)?
5.2For any high-value items (jewelry, art, collectibles, vehicles): original cost and insurance payout
If insurance payout exceeds original cost, this creates a taxable gain. Unscheduled standard household contents rarely have this problem.
5.3Total estimated original cost (basis) of all personal property lost
Best estimate — what you paid for everything, not replacement value
5.4Did the Edison settlement include a personal property / contents allocation?
6
Rebuild / Replacement Plan
Total loss clients only — §1033 deferral requires a rebuild or purchase plan
Unlocks: §1033 replacement period · Basis trap · Prop 19
If your home was a total loss, you have 4 years from the end of the tax year of conversion to reinvest proceeds in replacement property to defer the gain under §1033. The clock matters.
6.1What is your current rebuild/replacement plan?
6.2Estimated rebuild or replacement purchase cost
This number must meet or exceed your §1033 gain to defer 100% of the tax. We will calculate the exact target.
6.3If moving, are you aware of the Proposition 19 / §69.6 base year value transfer?
California wildfire victims who move can transfer their prior home's property tax base to a new home anywhere in CA. This can save thousands per year in property taxes permanently.
6.4Have you taken any distributions from retirement accounts (IRA, 401k) to cover fire-related expenses?
SECURE 2.0 allows up to $22,000 in qualified disaster recovery distributions with favorable tax treatment — 3-year spread, no 10% penalty
7
Entity, Title & Business
How ownership is structured affects who reports the income and which rules apply
Unlocks: Pass-through · §754 · Community property strategy
7.1Is any affected property owned by an entity (LLC, partnership, S-corp, trust)?
7.2Are you and your spouse filing jointly or separately for 2024/2025?
California community property rules create a split-election opportunity for MFS filers — both spouses can use different disaster year elections, potentially doubling the deduction benefit
7.3Did you have a home office or business use of the destroyed/damaged property?
8
What You've Already Been Told
Helps us identify conflicts with prior advice and find missed opportunities
Unlocks: Amendment analysis · Coordination strategy
8.1Have you received tax advice from another professional about the fire?
8.2Summarize any tax advice you've already received
Be specific — "file the loss now," "wait for the settlement," "it's not taxable," anything you've been told
8.3What is your biggest concern or question going into this engagement?
8.4Anything else we should know?
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Libman Tax Strategies LLC · Adam Libman, CRTP · Arcadia, CA · Washington, UT · bid2bank.com · 626-280-6865