Once the property is sold and you have expenses for improvements you would add these to your basis. If these improvements were performed to get the property ready to sell, and you sold the property in 2021, then you do not need to add them to your fixed asset list. The costs of the improvements would become part of your basis in the property. Your basis is the cost of the property plus any improvements or repairs made to the property during your ownership. The basis is used to determine the capital gain.
