Basically, on the property info section, I ignore the program when it asks me for the value of the improvements.
Correct. You'll enter those improvements later, in the Assets/Depreciation section.
Then when I get to the screen that is asking for the value of land and improvements, I just enter the info that the assessor provided so the program can get the ratio of land value to improvement value.
Just to clarify, there is (or should not be) any screen asking you for "land improvements". But there is a screen that will ask you for property tax values from your latest tax bill. I assuming that is the screen you are referring to. If so, then yes, you'll enter the property tax bill values so the program can use those values to figure what percentage of your cost basis gets allocated to the land.
Then later, on the depreciation screen for the house, I enter all the improvements I've made one by one, including those that I made while I was living in the house as an owner occupant. Is that all correct?
Just to clarify, when you get to the "assets/depreciation" section, in that section you will see the property itself, and "ONLY" the property itself listed. On that screen where you see "only" the property itself listed, there will be an "add another asset" button. You will click that button and add your property improvements.
Now take note that it "does not" matter when a property improvement was done. It could have been done before you converted the property to a rental, or after. It "still" adds value to your cost basis. But as I understand your post, you did not do any property improvements after you converted it to a rental.
So the date you "acquired" the asset (such as a new roof for example) may have been in 2018. But the date you placed the asset "in service" is the first day a renter "could" have moved in. Depreciation of the asset starts on the "in service" date, not the acquisition date (unless of course, both dates are the same).
It is vitally important that for all assets that were "acquired" before the in service date, all have the same "in service" date. In your particular situation, every asset you list "must" have the same in service date as the property itself does, since you did not do any property improvements after the property became available for rent.
I'm going to show a loss on this property in year 1,
On contraire! If you have a mortgage on the property, you're going to show a loss "on paper" on the SCH E every single year it's a rental. I can "almost" guarantee it.
and I don't need all this depreciation for that to be the case.
Unfortunately, we don't have a choice on the depreciation factor, and are required to take/claim that depreciation every year the property is a rental, weather we want to or not. If you like, I can explain how that can (and probably will) bite you in the future when you sell or otherwise dispose of the property. But for now, lets stick to the matter and hand.
