If you sell the boiler for $601 then you sold it at a gain. If you sell the boiler for $10,000 then you "STILL" sold it for a gain. A gain is a gain. Period.
If you sold the property at a gain, then you "MUST" show a gain on each and every asset listed. It does not matter if that gain is $1 on some asses, and $50,000 on another asset and $10 on yet another asset.
If you show a loss on some assets, and a gain on other assets, Then depreciation on those assets you show a loss on is included in the capital gains. It will be taxed at the higher capital gains tax rate. If you qualify for the "2 of last 5" exemption, then that recaptured depreciation will not be taxed, and you are required to pay taxes on recaptured depreciation no matter what. In the case of the exclusion, I would fully expect that to come back to bite you 24-36 months after your e-filed return is accepted by the IRS. Now I don't know for a fact that it will. But it would be no shocker at all, if it did.
