Enter ALL the costs for each project, so the cabinets, knobs and installation for new cabinets and flooring and labor for floor coverings.
You will enter the additional assets under the rental.
(go to the rental section, Yes, review your information profile, answer the question that follows about being a real estate professional, select EDIT for the property from the list, , scroll down to
Assets/Depreciation
Select Rental Real Estate Property
Select "Appliances, carpet, furniture"
The program will plug-in the recovery period, and in your case they will both be five years.
IRS Pub 527
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