House hacking in a sense?

[Michael Bickel]

So I own a house solely in my name, and my fiance lives in it with me (still another 1.5 years until we're married, for the purposes of this discussion). If I were to say she was renting from me (creating the actual lease and all other formalities so that it is done correctly, and she would still transfer money to me in the form of a rent payment), can I then depreciate my house, or a part/percentage of it? Also, can certain repairs then be deducted as they occur, as opposed to them being added to the basis when then house is sold? Basically, effectively lowering my personal taxable income from the deductions, as well as her being able to get a tax break on her income from a rental deduction in our state. I'm not trying to be sneaky or unethical, I'm just trying to discover the creative ways that people use to legally lower their taxable income. Otherwise, I would have just done it without asking about it LOL You're insight is much appreciated!