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Partnership Form 3468 Investment Credit in ProConnect Tax

by ProConnect Tax Online Updated 4 months ago

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.


To enter Investment Credit information for tax year 2023:

  1. From the Input Return tab, go to Schedule K Credits Investment Credit.
  2. Select the tab for the facility you need to generate the credit for.
    • Use the + button to add as many Facilities or properties as needed.
  3. Complete Part 1 for each Facility or Property.
  4. Scroll down to the section for the credit needed and complete any applicable information.
  5. ProConnect Tax 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

IFacility Information
IIQualifying Advanced Coal Project Credit and Qualifying Gasification Project Costs
IIIQualifying Advanced Energy Project Credit Under Section 48C
IVAdvanced Manufacturing Investment Credit Under Section 48D
VIGeothermal Energy Credit
VISolar Energy Credit
VIQualified Fuel Cell Property
VIQualified Microturbine Property
VICombined Heat and Power System Property
VIQualified Small Wind Energy Property
VIWaste Energy Recovery Property
VIGeothermal Heat Pump Systems
VIEnergy Storage Technology Property
VIQualified Biogas Property
VIMicrogrid Controllers Property
VIQualified Investment Credit Facility Property
VIClean Hydrogen Production Facilities as Energy Property
VITotals and Credit Reduction for Tax-Exempt Bonds
VIIRehabilitations Credit Under Section 47
Credit Transfers Out
ProConnect Tax

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