I am getting ready to finalize an 1120 in which the sole shareholder transferred most of the assets to the new C-Corp from his sole proprietorship (LLC). If I'm understanding correctly, the remaining depreciable life and basis is carried to the C-Corp...How should I enter the assets on the depreciation schedule so that the assets are depreciated correctly going forward? Should I enter the original date acquired, prior depreciation, method, etc from the LLC's depreciation schedule? Or should I input the date acquired as the date of the 351 exchange, and somehow force the program to pull the correct depreciation amount? I'm not sure of the best way to do this - sorry if this is a dumb question!