Thanks @annieland , for your suggestions. Putting aside how to add the landscaping improvements to the cost basis, do you have any idea where TurboTax is getting the total cost (without the landscaping improvements)? I checked my tax returns for the year when I started renting the property, and I only see the depreciable amount reported on Form 4562. The total cost is not reported anywhere?
Do you know what will happen if the just update the "Cost" and "Land" values by the same amounts (to account for the landscaping improvements) in the "Review Information" page in the "Sold Rental Property" section in the Rental and Royalties section. This will ensure the depreciation amount does not change. Thanks.
