There has to be a basis (specific assigned value) for each of the assets at the time of purchase. Ideally, they should be on a separate bill of sale at the time of purchase. I assume the tile is where it can be visually inventoried (i.e. still above ground). The IRS would probably frown upon mere say-so as basis for the tile (installed, among other things). I can see problems down the road if values are randomly arrived at for the bin and building against the overall purchase price. If you're not sure about the competency of your accountant then maybe you had better find a new one. It's fine to ask for opinions here but I would rather hang my hat with a top notch accountant.
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Today's Featured Article - Good As New - by Bill Goodwin. In the summer of 1995, my father, Russ Goodwin, and I acquired the 1945 Farmall B that my grandfather used as an overseer on a farm in Waynesboro, Georgia. After my grandfather’s death in 1955, J.P. Rollins, son of the landowner, used the tractor. In the winter 1985, while in his possession the engine block cracked and was unrepairable. He had told my father
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