@jpartsch
You are diving too deep into the pool ... come up for air.
If you inherited the home which has a FMV of which a % belongs to the land (hint ... you want a generous land value so you have some basis left when you sell for a better tax rate) and then you put in money to improve the property. SO simply add up the inherited price + improvements for the single basis and back out the land value in the asset section using any reasonable method available to you ... just keep records to support your figures.
