Should I correct the depreciation basis or just leave it and keep using the same?
No, to the point that I really want to say it as "absolutely not" without sounding to "bossy". Any change in the cost basis/allocation of any asset will completely skew the depreciation history, and the current and all future depreciation will be flat out wrong. I also don't know what the chances are that doing so would get the attention of the IRS. But I certainly wouldn't want to be the one to find out either.
