Unless she actually sold the assets before she made the conversion, those are the assets of the new entity so you don't want to show them as being disposed of and creating a loss.

Usually these business items are "contributed" into the S Corp.

"when I show that the company vehicle was disposed of on 03/27"

She got rid of the car, or converted it to personal use only? And now the S Corp has no vehicle, and she will turn in mileage allowance reporting?

Thank you for responding. How do I show it as being contributed?  So I should not be showing the disposal date on any of the assets?  Is there a way in ProSeries to ask for a short depreciation period?  I tried Depreciation Options and did not see anything there.

Thank you for the response.  That is my thinking exactly, but I can't figure out how to show it in ProSeries.  Any suggestions?  Thank you

Enter a sales date in the asset entry worksheet but leave the sales price blank

I tried that originally, but then it creates a loss

Sales price box left blank, not a zero

Thank you.  That did it. 

Thank you for helping me.  Another question.  When I enter the vehicle in the S-Corp, do I use the original cost less accumulated depreciation on the schedule C as my basis and start the 5 years of depreciation over again?

"When I enter the vehicle in the S-Corp,"

Is the car now owned, titled and insured by the S Corp with little to no personal use (which would be taxable through payroll)?

Or, is the car now considered a personally owned vehicle, and your employee-shareholder will be turning in business mileage reports for reimbursement under An Accountable Plan?

The vehicle is 100% business use.  It is not used personally at all.  It is currently in her name; I have advised her that she needs to transfer the title to the business; however, currently, there is a loan that has not been paid in full as of yet.  The business has been paying all of the expenses.

"currently, there is a loan that has not been paid in full as of yet. The business has been paying all of the expenses."

All of the vehicle operational expenses? The loan doesn't need to be paid off, first. The owner of the vehicle has the asset and that liability, which are part of what is contributed to the corporate entity.

It might be time to find a local mentor, because it seems there might be a list and valuations that need to be reviewed, which is more than can be done over the internet.