First Time Live-In Multifamily Investor - Can I depreciate an old 3-family house?

[Anastasia Kiryushkina]

Could anyone help me understand if I am able to depreciate an older house (built over 100 years ago) when I buy it?  It is a 3-family property and I will be occupying one of the units, so I realize I can only depreciate 2/3 of the house, if even that much.   Other than operating expense deductions, am I eligible to claim depreciation to help offset rental income taxes?    Thanks in advance!

[Jaycee Greene]

Quote from @Anastasia Kiryushkina:

Could anyone help me understand if I am able to depreciate an older house (built over 100 years ago) when I buy it?  It is a 3-family property and I will be occupying one of the units, so I realize I can only depreciate 2/3 of the house, if even that much.   Other than operating expense deductions, am I eligible to claim depreciation to help offset rental income taxes?    Thanks in advance!

Hi @Anastasia Kiryushkina, welcome to the BP Forum! As a non-CPA but former house hacker, I believe you are able to offset your taxes by 2/3 based on you living in 1 unit. However, I would encourage you to reach out to a real estate-focused CPA/accountant such as @Joshua Thompson or @Mohamed Youssef. Good luck!