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TrackPro News
New IRS Eligible Basis Ruling 2002-9
| The internal revenue service has issued Revenue Ruling 2002-9 concluding that impact fees can be included in eligible basis for residential rental property. The ruling also permits taxpayers to modify their past returns with respect to depreciation deductions taken if those deductions were based on basis that did not include impact fees. |
| Please consult your tax professional, or www.irs.gov for more information. |
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