monikernc
Level 1
12-07-2019
06:46 AM
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For a farm filing Sch F on 1040 only the residential energy credit form is available in Lacerte18. How do I file for the investment tax credit Form 3468 for solar to power the irrigation pivot? Plus after reducing basis of solar system by half the tax credit (15%) can 85% (100%-15%) be claimed with bonus depreciation?
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TaxGuyBill
Level 15
12-07-2019
06:46 AM
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This post is 10 years old, so I'm not sure if it is still the same, but it says it is on "Screen 34".
Yes, 85% should be eligible for depreciation. Offhand, I don't see any restriction against Bonus Depreciation, so it should qualify for that as well.
monikernc
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12-07-2019
06:46 AM
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Thanks I finally found it. For 1040 filers it is on the general business deductions screen and there is a 3468 section on that screen.
sjrcpa
Level 15
12-07-2019
06:46 AM
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Thanks for posting the solution. It may help the next person.
The more I know the more I don’t know.
The more I know the more I don’t know.
