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Generating individual Hawaii Form N-342 in ProConnect Tax

by Intuit Updated 3 days ago

This article will assist you with generating the following Hawaii forms:

  • Form N-342, Renewable Energy Technologies Income Tax Credit for Systems Placed in Service on or after July 1, 2009
  • Form N-342A, Information Statement Concerning Renewable Energy Technologies Income Tax Credit For Systems Installed and Place In Service On Or After July 1, 2009

Before you start

  • The amount of credit and the type of renewable energy technology will appear on Hawaii Schedule CR
    • Nonrefundable credits calculate on page 1 and refundable credits calculate on page 2.
  1. Go to Input Return State & Local Other Credits.
  2. Select Hawaii Credit for Renewable Energy Technologies
  3. Scroll down to the Tax Credit Treatment section.
  4. Choose the applicable credit option from the Select option to treat tax credit dropdown list.
  5. Enter the applicable credit information on this screen.
    • Some of the fields will be mandatory, depending on the type of credit.

Form N-342A entries in this section are placed in the e-file automatically. The distributive share entries automatically carry to Form N-342, line 40 or 41.

  1. Go to Input Return State & Local Other Credits.
  2. Select Hawaii Credit for Renewable Energy Technologies (N-342A e-file Only)
  3. Scroll down to the Tax Credit Treatment section.
  4. Choose the applicable credit option from the Select option to treat tax credit dropdown list.
  5. Enter the applicable credit information on this screen.
  6. Scroll to the Total and Distributive Share of Renewable Energy Technologies Income Tax Credit (Line 42-Line 44) section.
  7. Enter the (42) Total tax credit claimed.
  8. Enter the (43) Distributive share of solar energy tax credit, if applicable.
  9. Enter the (44) Distributive share of wind-powered energy tax credit, if applicable.
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