Yes. These items are added as new assets and depreciated differently the house itself. You can also use the special annual election in the asset section and expense it all in one year.
Please feel free to post any additional details or questions in the comment section.
This is from IRS Publication 527:
5-year property. This class includes computers and peripheral equipment, office machinery (typewriters, calculators, copiers, etc.), automobiles, and light trucks.
This class also includes appliances, carpeting, furniture, etc., used in a residential rental real estate activity.
In Turbo Tax to get the correct life, Update the Assets section of the Rental property. Edit the fridge and stove (you're going to have to do this for each of the assets). On the Describe this Asset page, choose Rental Real Estate Property. On the next page, Tell us a little more about your rental asset, choose Appliances, Carpet, Furniture.
Enter the description, cost, and date purchased or acquired, and fill out the next screens appropriately.
When you reach the screen that says Asset Summary, click the Show Details box, and you should have the cost and it should be correctly reported as a 5 year property.
You can use the special annual election in the asset section.
This election is an option you can take each year that lets you write off items $2,500 or less as expenses instead of assets. Expenses typically reduce your income by a larger amount than depreciating an asset over multiple years does. This means you could get a bigger refund.
