I see you have the Business software, and I expect that you're posting an 1120-S. The renovation and purchase of equipment will be considered Assets, and be depreciated over time.
The garage itself may qualify under the "Home Office" guidelines. Topic No. 509 Business Use of Home. You can then take a portion of the RE taxes, Mortgage Interest, and general expenses.
You will then record your income and operating expenses.
If this doesn't cover your entire question please reach out for additional assistance on any specific issues.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
