The IRS has adopted new rules designed to help classify whether an item is a "repair" which is generally deductible in the year it is made, or an "improvement" that must be added to the property's basis and deducted over a period of years. These rules are exceedingly complex! If you are making substantial repairs or improvements to your property, you will want to consult your accountant before you begin. Not only are the rules convoluted and intricate, the ramifications can be significant--triggering accounting method changes and amended returns. Getting advice before proceeding could save you accounting fees--and tax dollars--in the long-run.