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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.
Some time ago real estate offered many tax advantages. You could deduct all your losses against ordinary income and property could be depreciated at a faster pace while depreciation recapture escaped taxation when the property was sold. In addition, there were a number of other benefits. Much of that has changed now.