Sole Proprietorship - Schedule C

SIC stands for the Standard Industrial Classification Code. It is a four digit number assigned to identify a business based on the type of business or trade involved.
The first two digits correspond to major groups such as construction and manufacturing, while the last two digits correspond to subgroups such as constructing homes versus constructing highways.
A company can determine its SIC number by looking it up in a directory published by the Department of Commerce, or by checking in the SIC book in the reference section of a local library.
SBA size standards are based on SIC codes.

Although you purchased a sole proprietorship for 1 amount, that amount must be allocated to the individual assets for depreciation purposes.
Allocation is based on the proportion of the sales price to an individual assets fair market value at the time of the sale. Speak to your local CPA about the allocation formulas.

Sole Proprietors with business expenses less than $5,000, do not have a net loss from the business, use the cash method of accounting, do not have an inventory during the year, have only one business as a sole proprietor, have no employees during the year, are not required to file Depreciation Form 4562, are not required to file Office in Home Form 8829 and have no prior year unallowed passive losses, may use Schedule C-EZ.