On the "What improvements did you make before renting out" you will enter the total of all improvements made since you purchased the home. To reiterate, improvements are things that increase the value of the property and don't include maintenance. You do not need to list things separately. This will ADD the cost of the improvements to your basis, increasing the basis to be depreciated.
On the "Did you buy any assets that cost $2,500 or less in 2023" you will be able to expense any improvements you made in 2023 for the rental that are less than $2,500.
If you have any improvements you made in 2023 that were more than $2,500, these items will be added as assets and depreciated along with the home and its "new" basis (original home cost plus improvements made after you bought the home and before you made it a rental).
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
