Screen 3468-3 Energy Credit Continued and Rehabilitation Credit (1120)

Overview

A separate Form 3468 is filed to claim an investment credit for each facility or property and for each unused investment credit received from a cooperative.
Based on the Form 3468 instructions, the investment credit is not calculated for an S Corporation. The S Corporation passes through the cost or basis of each property to the shareholder, and the investment credit is calculated at the shareholder level. The S Corporation provides the required information to the shareholder on the 3468 worksheets in the shareholder package.

Description

The application updates this field with the data entered in the
Description
field in Screen 3468.
The application uses the higher percentage to calculate the various energy credits based on the responses to the questions on Form 3468, Part I. The data entry for these questions is found on Screen 3468.
Select the type of property from the drop-down menu and enter the rehabilitation expenses in the
Qualified rehabilitation expenditures incurred
field.
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