Yes. If you are trying to figure your cost basis for property rented. It is the actual cost plus all major renovations or improvements to the property since you owned it. The renovations could have been made prior to renting the property too. You should be able to find this on your depreciation schedule. Since you imported last year's tax file to TurboTax Online the information should be there listed on Form 4562.
The basis of property you buy is usually its cost. You may also have to capitalize (add to basis) certain other costs related to buying or producing the property. Your original basis in property is adjusted (increased or decreased) by certain events. If you make improvements to the property, increase your basis. If you take deductions for depreciation or casualty losses, reduce your basis. You can't determine your basis in some assets by cost. This includes property you receive as a gift or inheritance. It also applies to property received in an involuntary conversion and certain other circumstances. See Publication 551 for more details.
Basis of Assets
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