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You can only claim deductions for the period during the year that the property is rented or is available for rent. If you live in a property and intend to rent it out in future, investment property depreciation is not available to you until it is used for rent generation.
1 Who says you should sell? 2  Investment properties can give you residual, passive income for the rest of your life, and the property can be depreciated for 27.5 years, reducing your tax burden. 3  Once the propertyâs mortgage is paid off, thatâs considerable peace of mind for your retirement years.