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Federal input screens

Screen 3468 - Investment Credit (1065)

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Overview

Form 3468 isn't required to print with Form 1065 or with Form 8865 unless there is information for Part I or Part III, line 11h or 11i.
Information from this screen is separately reported by activity on the Partner’s Schedule K-1 Activity Worksheet. Therefore, enter data for this screen in the activity folder (Income & Deductions, Farm, and so on) to which the investment credit is related. Use the
CrGen
 screen in the Credits folder to enter general investment credit information not related to an activity.
note
  • Forms 1065 and 8865 pass through only the basis of the rehabilitation, energy, and other investment credit property to the partners on Schedule K-1. The credit amounts aren't calculated on Form 3468 for these returns.
  • There's a client-specific option to specify the method of entering asset information: enter it either in the asset module or in the various depreciation screens. To use this screen to enter asset information, select
    File
    ,
    Client Properties
    ,
    Advanced Properties
    ,
    Enter Asset Detail
     tab, and clear the
    Enter asset detail information
     checkbox to turn off the application default.

Rehabilitation Credit

Rehabilitation project information automatically transfers from the asset module to the statements attached to these fields when you use codes
R
 and
C
 in
Credit/Amount
. Additionally, use these fields to enter rehabilitation project information not entered in the asset module.

Energy Credit

Basis of property using geothermal energy
Enter code
G
 in
Credit/Amount
 in the asset module to transfer the basis of geothermal energy or solar energy property (acquired before January 1, 2006) placed in service during the year from the asset module. If you didn't enter assets in the asset module, enter the amount in this field.
Basis of property using solar energy
Enter code
S
 in
Credit/Amount
 in the asset module to transfer the solar energy property (acquired after December 31, 2005) placed in service during the year from the asset module. If you didn't enter assets in the asset module, enter the amount in this field.

Other Investment Credits

Investment in advanced energy project credit
Enter code
P
 in
Credit/Amount
 in the asset module to transfer the basis of advanced energy project property placed in service after February 17, 2009 from the asset module. If you didn't enter assets in the asset module, enter the amount in this field.

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