If the answer is no, and the only goal is to sidestep some ability to deduct something, or be able to deduct a non-deductible personal expense ....assume it's a no-go. 

The renewal included a deductible increase from 10% to 15% of replacement cost.

But main point here is, grouping elections can unlock real estate depreciation deductions in sort of the same way that "real estate professional status" and "short-term rentals" do.Amazing!

To reduce taxable income, focus on maximizing deductions for expenses like materials, labor, and interest.This post does not create a CPA-Client relationship.

If you have active participation in the rentals and your income is below $150,000, you might be able to deduct some rental losses which could help you with your other income such as capital gains.

TurboTax has rental property features, and the IRS has a great guide on rental income, deductions, and recordkeeping - IRS Rental Property Tax Guide.https://www.irs.gov/businesses/small-businesses-self-employed/tips-on-rental-real-estate-income-deductions-and-recordkeeping2.

Am I going to get a tax deduction and how much?

But here are ways to reduce capital gains taxes:Deduct expenses (renovation, selling costs) in 2024 to offset gains.Hold for 1+ year to qualify for lower long-term capital gains tax rates.Invest in a Qualified Opportunity Fund (QOF) to defer taxes.Use tax-loss harvesting to offset gains with investment losses.Pushing 2024 deductions to 2025 won’t help much with 2024 capital gains.

.)✅ Return all keys, garage remotes, and access cards✅ Provide a forwarding address for the security deposit refundLandlord/Property Manager Responsibilities✅ Conduct a pre-move-out inspection (optional)✅ Take photos/videos of the property’s condition✅ Verify all keys, garage remotes, and access cards are returned✅ Check for unpaid rent, utilities, or damages beyond normal wear and tear✅ Hire a cleaning service (if needed)✅ Complete repairs and maintenance (paint, flooring, appliances, HVAC, plumbing)✅ Change locks if required by state law or property policy✅ Test smoke detectors and carbon monoxide alarms✅ Review lease terms for security deposit deductions✅ Send tenant security deposit refund (minus any deductions) within the legal timeframe

This results in smaller annual deductions.- No bonus depreciation: Unlike U.S. rentals, foreign properties do not qualify for bonus depreciation.