If you do, consider renting it out for a few days. If you rent the place for 14 days or less, there are no tax consequences. You can pocket that tax-free money. But, if you rent the place out for more than two weeks, you must claim that rental income on your tax return. There's an upshot, though.
Depreciation is an accounting thing.
Over time, natural wear and tear brings down an asset's value. So accounting folks deduct a portion of the asset's cost each year. On paper, the asset will eventually be worthless. But by taking a deduction for depreciation, you are decreasing the asset's value. So you must subtract that depreciation amount from your original cost basis.