Sale of Rental Property with multiple depreciation items

Yes, a separate entry for each disposition. It seems you have 4 (property, furnance, carpet 1, carpet 2). Maybe the two carpets can be combined into one.

In proportion seems logical. For example, net purchase is

If you don't allocate the selling price among the assets based on their FMV, you sorta forfeit the opportunity to avoid the unrecaptured section 1250 gain, which can be taxed at a higher rate than LTCG but isn't always. For an extreme example, let's say the entire gain can be ascribed to the land, i.e., none of the depreciable assets has any taxable gain from the sale, based on those assets' fair market value in the sale. In this case, if you report the sale as separate assets, you'll find that none of the gain attributable to the depreciation allowed or allowable of $7,647 is taxable as unrecaptured section 1250 gain, since the land didn't have any depreciation taken. All the gain will be Section 1231 gain.

Maybe this saves taxes, maybe not. Depends on too many other things to even start to list them here. And maybe it's not the case that all the gain is in the land; this is factual and I can't tell from here, and you might not be able to tell from there. If you lump all the assets into one, however, IRS won't complain because you've tried for the highest tax. NO, that's not right. The personal property, if sold at a gain, would give you Section 1245 recapture, which is fully taxable as ordinary income, since it's personal property, and not real estate. Make sure to sell the carpet at a loss...