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Partnership Form 3468 Investment Credit in ProConnect Tax

by Intuit• Updated 10 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:

From the Input Return tab, go to Schedule K ⮕ Credits ⮕ Investment Credit.
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.
Complete Part 1 for each Facility or Property.
Scroll down to the section for the credit needed and complete any applicable information.
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

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

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