OK, it does appear that if I simply put the "original purchase price + improvement cost" in the cost of "Tell me about this rental asset", it'd take it and use it as the adjust basis. This seems to translate to the "Asset Entry Worksheet" line 4: Enter the total cost when asset was acquired. This description gave me pause, but I cannot find anywhere else it'd ask for separate improvement costs (unless I enter it as a separate asset).
Is this how we enter this for converted rental?
PS: I am using TT Premier.
