Enter the cost of improvements to your home in the Assets/Depreciation section. These are tangible assets. An intangible asset is a non-monetary asset that cannot be seen or touched. Tangible assets are physical assets that can be seen, touched and felt.
Enter repairs as expenses.
If the improvements are to the home office only, you can claim depreciation on the full cost. If the improvements are to the whole house, you would claim the same proportion of the depreciation on the improvements that you claim on the house (home office percentage).
See this TurboTax tips article for more information on home office deductions.
See also this thread for another discussion of this topic.
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