Thanks for your reply. To clarify my question, I need to provide more information. One of the improvements that I have depreciated in past years is carpeting. I replaced carpeting three times over several years. Each time I replaced the carpet, I created a separate asset for each carpeting that was installed. I depreciated each carpeting asset over 5 years. Even though the carpeting was replaced, the replaced carpeting remains on my list of assets for this property.
Now that I have sold the property, should I delete from the asset list the carpeting that was replaced in prior years OR should I leave the old carpet on the list, and allocate a portion of the sale price of the condo to each of the past carpet assets?
