How to enter Form 6478 biofuel producer credit in ProConnect Tax

This article will assist you with entering information for Form 6478 in the Corporate and Individual returns.

Table of contents:

Follow these steps to input the information in the Corporate module:

1. Go to Input Return ⮕ Credits ⮕ General Business Credits.
2. Select the Energy/Fuel Production tab.
3. Scroll down to the Biofuel Producer Credit (6478).
4. Enter the applicable information.
5. Go to Check Return to view Form 6478, Biofuel Producer Credit.
   • The allowable amount is calculated on Form 6478, Line 15.
   • The amount on Line 15 flows to Form 3800, Page 3, Line 29c.
   • The credit allowed for the current year is calculated on Form 3800, Page 3, Line 32.
   • For corporations, the allowable credit carries to Form 1120, Schedule J, Line 5c.

Follow these steps to input the credit if from a passthrough K-1 into the corporate return:

1. Go to Input Return ⮕  Income ⮕ Schedule K-1.
2. Select Lines 12-20.
3. Scroll down to Credits.
4. Enter the applicable amount in the Biofuel producer credit (15I) field, code 91.
   • The amount will appear on Form 6478, Line 9.
   • The allowable amount is calculated on Form 6478, Line 15.
   • The amount on Line 15 flows to Form 3800, Page 3, Line 29c.
   • The credit allowed for the current year is calculated on Form 3800, Page 3, Line 32.
   • For corporations, the allowable credit carries to Form 1120, Schedule J, Line 5c.

Follow these steps to input the information in the Individual module:

1. Go to Input Return ⮕ Credits ⮕ General Bus. & Passive Act. Credits.
2. Select the Energy/Fuel Production tab.
3. Scroll down to the Biofuel Producer Credit (6478).
4. Enter the Gallons of second generation biofuel sold or used after 1/02/2021.
5. Enter any other applicable fields.

Follow these steps to input the credit if from a partnership passthrough K-1 into the individual return:

1. Go to Input Return ⮕ Income ⮕ Passthrough K-1's ⮕ Partnership Information.
2. Select Lines 11-20.
3. Scroll down to Line 15 - Credits and Withholding.
4. Under K-1 Code, select I - Biofuel producer credit.
5. Enter the Amount of Credit.

Follow these steps to input the credit if from a S-corporation passthrough K-1 into the individual return:

1. Go to Input Return ⮕ Income ⮕ Passthrough K-1's ⮕ S Corporation Information.
2. Select Lines 11-17.
3. Scroll down to Line 13 - Credits and Withholding
4. Under K-1 Code, select I - Biofuel producer credit.
5. Enter the Amount of Credit.

Follow these steps to input the credit if from a Estate or Trust passthrough K-1 into the individual return:

1. Go to Input Return ⮕ Income ⮕ Passthrough K-1's ⮕ Estate or Trust Information
2. Select Lines 9-14.
3. Scroll down to Line 13 - Credits and Withholding
4. Under K-1 Code, select H - Biofuel producer credit.
5. Enter the Amount of Credit.