if FMV is less than adjusted basis you must select either the rules under IRC Section 362(e)(2)(A) or Section 362(e)(2)(C)
if FMV is greater than adjusted basis, use adjusted basis
fully depreciated lump sum. don't know what's included, there are no specific tax rules on this. however, if some of these assets will be sold or otherwise disposed of, then you need to keep details either by listing them separately, so if sold or disposed of the data entry required is easier. or keep the details manually
regardless. follow tagteam's advice. see a pro. operating an S-Corp is more complicated and has many more tax rules that must be followed. mess up and you will regret converting.
