Reading the answer, raises a question regarding a sale of a vac rental we sold this year. We will list the house as a sale and it's price, however we are told that the sale price has to be reduced by the combined sale price of each individual asset. IE House sold for 150K. However there are 10 assets. So we have to "sell" each asset too? And list a sale price of lets say $1 each, so the sale price of the home would be $10 less, as $10 is for the sale of assets? I have to sell every asset?
And what do I do for assets that we disposed of? Threw away, as they were no good, and useless?
Which it was easier to just list the sale of the vac rental, and the price we received, which obviously would include things like the roof, water heater, window tinting, dish washer, etc. Who actually sells a home minus those items?
