Items $200 or less can be deducted in one year unless they are part of a larger 'project' (such as a remodeling project). If they are part of a 'project', then the entire cost of the 'improvement' is depreciated.
"Assets" over $200 are depreciated (you may qualify for a special election to increase that amount) if the item or asset has a useful life over 1 year.
Appliances, carpet, etc. will usually be depreciated (depreciate each separately), usually over 5 years for a rental property.
Improvements to the home, such as finishing the garage, are usually depreciated over 27.5 years.
Just enter these "assets" into TurboTax and it should walk you through the process.
