It all comes out equal.
No, it does not come out equal if you have multiple assets listed. If you do not report the sale of each asset, then the depreciation is not correctly recaptured and taxed. If sold at a gain, then you must show a gain on all assets listed. If sold at a loss, then you must show a loss on all assets listed.
Otherwise, recaptured depreciation is included in the capital gains and is incorrectly taxed at the capital gains tax rate, instead of the ordinary income tax rate.
