Treat it as if it was a rental until the day it is sold so you can deduct the carrying costs and the improvements are repairs in the year of sale. Then sell off the assets ... just follow the interview screens. You will have to manually calculate the allocation of the sales price and cost of sale ... once you have your numbers the entry is a breeze.
A simple example of ratio allocation ... if you have more assets than the example then you will have more lines. Remember if you divide a big number into a littler number you get a % ... thus 5000/100,000 = 5%
original cost basis ratios Sales price cost of sale
home 80000 80% 160,000 8,000
land 15000 15% 30,000 1,500
roof 5000 5% 10,000 500
totals 100,000 100% 200,000 10,000
All you need to enter into the program is the % of sales price & % of cost of sale for each asset ... IGNORE the depreciation taken as it is immaterial for the sales of the assets.
