If a rental property is not available to be rented yet because you are still fixing it up to be eventually rented, then you cannot take any deductions on it until it is actually able to be "placed in service" to be rented.
Once your property is available to be rented and is "placed in service" as a rental property, you would include the income and expenses on Sch E of the individual return if it is personally owned. The depreciation will be a deduction on the Sch E and will be calculated and reported on Form 4562 for the rental property
For additional information, please refer to the following link:
How to depreciate a new rental property
