What's new for Form 3468 for tax year 2023:
For tax year 2023 the IRS has redesigned Form 3468 to support the provisions created by the Inflation Reduction Act of 2022 (IRA) and the Creating Helpful Incentives to Produce Semiconductors Act of 2022 (CHIPS). See the What's New section here for more information.
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Starting in tax year 2023:
- Go to Screen 20.3 Investment Credit (3468)
- Under the Facility section select the facility you need to generate the credit for.
- Use the Add button to add as many Facilities or properties as needed.
- Complete Part 1 for each Facility or Property.
- Select the section for the credit needed and complete any applicable information.
- Lacerte will include information related to Form 3468 with the Schedule K-1 with the partner. This information is passed through to the individual taxpayer.
Available Sections
| Part | Credit |
|---|---|
| I | Facility Information |
| II | Qualifying Advanced Coal Project Credit and Qualifying Gasification Project Costs |
| III | Qualifying Advanced Energy Project Credit Under Section 48C |
| IV | Advanced Manufacturing Investment Credit Under Section 48D |
| VI | Geothermal Energy Credit |
| VI | Solar Energy Credit |
| VI | Qualified Fuel Cell Property |
| VI | Qualified Microturbine Property |
| VI | Combined Heat and Power System Property |
| VI | Qualified Small Wind Energy Property |
| VI | Waste Energy Recovery Property |
| VI | Geothermal Heat Pump Systems |
| VI | Energy Storage Technology Property |
| VI | Qualified Biogas Property |
| VI | Microgrid Controllers Property |
| VI | Qualified Investment Credit Facility Property |
| VI | Clean Hydrogen Production Facilities as Energy Property |
| VI | Totals and Credit Reduction for Tax-Exempt Bonds |
| VII | Rehabilitations Credit Under Section 47 |
| Credit Transfers Out |
For tax year 2022 and prior:
Form 3468 Investment Credit information can be entered in Screen 20.2, Other Credits in the Investment Credit (3468) section.
