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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.
Tax-deductible investment expenses. Certain investment expenses incurred on your taxable investments are tax-deductible. Understanding how to take full advantage of these deductions can help minimize the amount you pay in taxes. The IRS lets you deduct certain investment expenses incurred on your taxable investments. Check with your tax professional to make sure youâre taking full advantage of miscellaneous investment-related itemized deductions, investment interest expenses, and capital losses. Miscellaneous investment-related itemized deductions.