All the major improvements you did over the years should be added to the Cost Basis when you set up the Rental Property as an Asset.
For instance, you originally paid 100K for the house, have spent 50K on various major improvements, then set up your Rental Property Cost Basis as 150K to start depreciation with in 2021 (first year of rental).
If you don't add these improvements to the Cost Basis, your Cost Basis is then the original 100K you paid for the house (that will be used to calculate annual depreciation), so it's advantageous to have a higher Cost Basis when starting out (and later when selling).
Only add improvements that actually added to the value of the home.
Now, if you make 'capital improvements' AFTER the home is available for rent, you add the cost as a Rental Asset and depreciate it (along with the property itself).
Other 'maintenance-type' expenses that you incurred BEFORE the property 'was available for rent' are not deductible. For example, if you painted the house before you rented it, it's not deductible (even though it needed paint to be rentable). Paint it after it's a rental, and that's an expense.
Click this link for detailed info on Rental Property you may find helpful.
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