@MinhT
Still a little confused on how to close out the depreciating improvements in TT. I have 8 depreciating items on Form 4562, besides the Structure itself; items like carpet, siding, A/C unit, etc. that are in various stages of depreciation over the last 14 years we've owned the property. I believe I read elsewhere in this community to edit each in TT all of those still-depreciating items and 'sell' them at no gain and no expense of sale, using the closing date to specify when they were 'disposed of or stopped using them in the business'. Same for the property itself.
Is this the proper method to dispose of those depreciating items, and essentially lump it all into the sale of the property as a whole, rather than trying to figure out how much of the sale price went to each of those improvements?
OR, can I ignore editing/closing out each of those improvement items in TT and just sell the Structure?
