You can look at your Property Tax Bill to find the % Allocated to Land/Building. For example, if your bill shows 100K allocated to Building/Improvements, and 20K allocated to Land, then land is 20% of the total.
You can estimate the value of Capital Improvements you made prior to renting to establish a Cost Basis for your Rental Property. Add that amount to what you paid for the property. Then allocate % to Land, as per example above. You may want to write out a list of the Improvements you made, with dates and estimated amounts, to keep for your records to show how you arrived at the cost basis amount you entered.
However, since you listed it for rent 12/2021, any Capital Improvements done after that date should be entered as a Rental Asset. If the work done between 12/2021 and and 03/2022 was not major capital improvements, claim it as a Repair expense. If you do enter capital improvements as an asset, you will be presented with several options on how to claim the expense in the first year, depending on the type of asset. Appliances can be depreciated over 5 years, a new roof over 27.5 years, the same as the property, for example.
You can claim the cost of the home warranty, fire insurance, flood insurance and umbrella policy as Rental Expenses.
Here's more info on Rental Property Depreciation.
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