Depreciation of a Rehab - No depreciation on added value?

[Eddy Jerez]

I was doing my 2019 taxes, and my accountant says that the added value of my condo investment cannot be depreciated. Say What?  I bought November 2018 for $215k and rehabbed.  Been renting very well for short term occupancy, including Airbnb.  Finally refinanced this year and appraisal came out at $385k.  My accountant said that the added value to my asset cannot be depreciated, only the 27.5 year depreciation to the original cost of $215k allowed?  I need a second opinion but this must be an easy answer for seasoned investors.