New IRS regulations impact owners of rental, investment properties 

Tax forms and money image via Shutterstock.com.

If you own rental property, or any other business or investment property, the Internal Revenue Service has bad news for you.

It has issued a massive new set of regulations (256 pages in all) with complex rules that, starting in 2012, all owners of business and investment property are supposed to follow to determine what constitutes a currently deductible repair versus an improvement that must be depreciated over several years.

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