Partnership Form 3468 Investment Credit in Lacerte

What's new for Form 3468 for tax year 2024:

• For tax years beginning after January 1, 2024, eligible filers can claim the clean electricity investment credit under section 48e in Part V.
• If you are claiming a rehabilitation credit and you completed Part VII, lines 1i or 1j, you also need to complete lies 1k(i) and 1k(ii). Both lines are now required.
• The IRS established a pre-filing registration process that must be completed prior to electing payment or transfer of the investment credit. You can register here.

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Starting in tax year 2023:

1. Go to Screen 20.3 Investment Credit (3468)
2. 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.
3. Complete Part 1 for each Facility or Property.
4. Select the section for the credit needed and complete any applicable information.
5. 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

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.