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How to generate Form 8835 in Lacerte

by Intuit Updated 4 months ago

Below, you'll find instructions on generating Form 8835, Renewable Electricity Production Credit, in Lacerte.

Refer to the IRS Instructions for Form 8835 for more information.

What's new for Form 8835 for tax year 2023:

The Inflation Reduction Act (IRA22) made the following changes.

  • The title of Form 8835 was changed to “Renewable Electricity Production Credit.” The changes on the form and the instructions are being made to bring Form 8835 into full conformity with IRA22.
  • Extended and modified the existing production credit for applicable renewable energy. Form 8835 will be used by filers to claim the section 45 credit for existing and new facilities.
  • Solar energy facilities placed in service after 2021 are reinstated as eligible for the credit.
  • Facilities satisfying the Wage and Apprenticeship requirements, Domestic Content Bonus Credit Amount requirements, and Energy Community requirements are eligible to increase the credit. Line 6 will be used to set apart the amount necessary to report these specified adjustments.
  • IRA22 creates new section 45V for the production of “qualified clean hydrogen” during a 10-year period starting on the date when the qualified clean hydrogen production facility was placed in service. For tax year 2022, Form 8835 will be used by filers claiming the section 45V credit.
  • The instructions for qualified clean hydrogen cover facilities the construction of which begins after August 16, 2022 (IRA22's enactment date).
  • Facilities that meet the lifecycle greenhouse gas emissions rate and the Wage and Apprenticeship requirements are eligible to increase the qualified clean hydrogen credit.
  • Reporting the credit rate. Line 8 will be used to claim the new section 45V qualified clean hydrogen credit and other special adjustments. Expired credits. The credit period for refined coal produced at a refined coal production facility and the Indian coal produced at an Indian coal production facility expired after 2021.

To generate Form 8835 starting in tax year 2023:

  1. Go to Screen 34, General Bus. & Act. Credits.
  2. From the Sections select Renewable Electricity Production Credit (8835).
  3. Complete Part I with the Facility Information.
    1. If the property qualifies for the 10% domestic content bonus be sure to check Yes under Does the property qualify for a domestic content bonus credit? and attach the required informaiton. See here for information on what to include in the attachment.
  4. Complete Part II with the Renewable Electricity Production information.

To generate Form 8835 in tax year 2022 and prior:

  1. Go to Screen 34, General Bus. & Act. Credits.
  2. Scroll down to the Renewable Electricity, Refined Coal, and Indian Coal Production Credit (8835) section.
  3. Under the Electricity or Coal Produced subsection, enter any applicable fields.
  4. Enter any other applicable fields in this section.
Lacerte Tax

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