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Sorry, yes C-corp. Thought that was clear by referencing an 1120 not an 1120S. I said I was sticking to my strengths...

I use UltraTax for tax prep. In the asset portion you can choose "mass disposition" or "mass out of service." Comes in handy when someone sells a rental or business property, or in this case the asset bases change. If ATX doesn't offer that option, you'll just have to take each asset out of service on the date of death (not the mid-year convention ones though) and enter two new assets for each one (one with 1/2 original basis and depreciation; the other with 1/2 DOD value). Good thing it's late November and there is time to do things like this.

You should state if the corporation is a 1120C or 1120S. We assume a C Corp.