First Property Depreciation Question

[Matt Bode]

I'm about to put my primary home up for rent and purchase a new primary. I own about 70% of the home. Question and I can't find a straight answer anywhere.

Depreciation on the rental- I realize its over 27.5 years- is this depreciation just for the income of the rental, or will I be able to use it to lower my taxable income on my main job?