Generating Form 3468, Investment Credit ProSeries

To generate the 3468 in a 1065 return starting in tax year 2023:

1. Open the Federal 1065 return.
2. Press F6 to bring up Open Forms.
3. Type 3468 and select OK.
4. Enter a description of the facility and select OK to open the 3468.
5. Complete Part 1 for each Facility.
   • Once the form is complete there is a QuickZoom in Part 1 to create another copy. Create one copy for each facility or property.
6. Scroll to the section for the credit needed and complete any applicable information.
7. ProSeries does not transfer the facility information to the partners. You must manually enter the required disclosures on the Schedule K and K-1. The credit amounts from Part II-VII will flow to the K-1 as supplemental information.
8. If you are transferring the credit or making a gross elective payment see How to enter information for Form 3800 in ProSeries on how to complete the 3800 Part III.

To generate the 3468 in a 1120S return starting in tax year 2023:

1. Open the Federal 1120S return.
2. Press F6 to bring up Open Forms.
3. Type 3468 and select OK.
4. Enter a description of the facility and select OK to open the 3468.
5. Complete Part 1 for each Facility.
   • Once the form is complete there is a QuickZoom in Part 1 to create another copy. Create one copy for each facility or property.
6. Scroll to the section for the credit needed and complete any applicable information.
7. ProSeries does not transfer the facility information to the shareholders. You must manually enter the required disclosures on the Schedule K and K-1. The credit amounts from Part II-VII will flow to the K-1 as supplemental information.
8. If you are transferring the credit or making a gross elective payment see How to enter information for Form 3800 in ProSeries on how to complete the 3800 Part III.

To generate the 3468 in a 1040:

If the 3468 is from a passthrough K-1:

1. Open the Schedule K-1 Worksheet.
2. Scroll down to the Credits & credit recapture line.
3. Enter the Codes and Amounts from the K-1 received.
4. Select the QuickZoom to enter addtl info.
5. Enter the amount on the applicable line for Form 3468.

If the 3468 is not passed through from a K-1:

1. Open the Federal 1040 return.
2. Press F6 to bring up Open Forms.
3. Type 3468 and select OK.
4. Enter a description of the facility and select OK to open the 3468.
5. Complete Part 1 for each Facility.
   • Once the form is complete there is a QuickZoom in Part 1 to create another copy. Create one copy for each facility or property.
6. Scroll to the section for the credit needed and complete any applicable information.
7. If you are transferring the credit or making a gross elective payment see How to enter information for Form 3800 in ProSeries on how to complete the 3800 Part III.