IGNORE the depreciation
Yes, in the sense it doesn't come into direct play when allocating the sales price.
However, if you were to allocate your sales price across the land and structure only, and give s sales price of $0 to the other assets, your gain will still come out the same. However, the un-recaptured depreciation will be included in that gain and taxed at the capital gains tax rate. A rate that will potentially be higher than having the recaptured depreciation taxed at the ordinary income rate.
