If you want to list assets separately, then enter the building and land separately with the lower value.
For example if you are going to list 10,000 worth of assets on a 300,000 purchase, the land might get 25,000, building 265,000 and then the assets.
You cannot report so much for the assets that you have nothing left for the house itself.
Once you enter the house and land, enter each asset you wish to depreciate separately.
Please be aware that if the rental is generating passive income/loss, you might be limited on the loss you are allowed to claim in the tax year and what you are required to carry-over.
Also, please be aware that depreciation is recaptured when the rental is sold.
Bonus depreciation is recaptured when sold OR converted to personal use.
If you report too low of a cost for the building (basis) when you sell you MIGHT have Depreciation Recapture AND Capital Gain.
If you list carpet as an asset, when it is replaced you will take the carpet off the books and enter the new floor covering as a new asset.
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