Federal Investment Credit
Extracted from PDF file 2022-federal-form-3468.pdf, last modified January 2023Investment Credit
Form 3468 Department of the Treasury Internal Revenue Service Investment Credit OMB No. 1545-0155 Attach to your tax return. Go to www.irs.gov/Form3468 for instructions and the latest information. Name(s) shown on return Part I 2022 Attachment Sequence No. 174 Identifying number Information Regarding the Election To Treat the Lessee as the Purchaser of Investment Credit Property If you are claiming the investment credit as a lessee based on a section 48(d) (as in effect on November 4, 1990) election, provide the following information. If you acquired more than one property as a lessee, attach a statement showing the information below. 1 Name of lessor: 2 Address of lessor: Description of property: 3 4 Amount for which you were treated as having acquired the property . . . . . . . . . . . . . $ Part II 5 Qualifying Advanced Coal Project Credit, Qualifying Gasification Project Credit, Qualifying Advanced Energy Project Credit, and Advanced Manufacturing Investment Credit Qualifying advanced coal project credit (see instructions): a Qualified investment in integrated gasification combined cycle property placed in service during the tax year for projects described in section 48A(d)(3)(B)(i) . . . $ × 20% (0.20) 5a b Qualified investment in advanced coalbased generation technology property placed in service during the tax year for projects described in section 48A(d)(3)(B)(ii) $ × 15% (0.15) 5b c Qualified investment in advanced coalbased generation technology property placed in service during the tax year for projects described in section 48A(d)(3)(B)(iii) $ × 30% (0.30) 5c d Total. Add lines 5a, 5b, and 5c . . . . . . . . . . . . . . . . . . . . . . . . 6 Qualifying gasification or advanced energy project credit (see instructions): a Qualified investment in property placed in service during the tax year (a) of advanced energy project property or (b) of qualified gasification property for which credits were allocated or reallocated after October 3, 2008, and that includes equipment that separates and sequesters at least 75% of $ the project’s carbon dioxide emissions . × 30% (0.30) 6a b Qualified investment in property other than in 6a above placed in service during the tax year . . . . . . . . . . . $ × 20% (0.20) 6b c Total. Add lines 6a and 6b . . . . . . . . . . . . . . . . . . . . . . . . . 7 Advanced manufacturing investment credit (see instructions): Basis in qualified property as part of an advanced manufacturing facility, placed in service during the tax year and after 2022, the construction of which began after August 9, 2022 . . . . . $ × 25% (0.25) 8 Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Enter the applicable unused investment credit from cooperatives (see instructions) . . . . . . 10 Add lines 5d, 6c, 7, and 9. Report this amount on Form 3800, Part III, line 1a (see instructions if you entered an amount on line 7) . . . . . . . . . . . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 12276E 5d 6c 7 8 9 10 Form 3468 (2022) Page 2 Form 3468 (2022) Part III Rehabilitation Credit and Energy Credit 11 Rehabilitation credit (see instructions for requirements that must be met): Check this box if you are electing under section 47(d)(5) to take your qualified rehabilitation expenditures into account for the tax year in which paid (or, for self-rehabilitated property, when capitalized). See instructions. Note: This election applies to the current tax year and to all later tax years. You may not revoke this election without IRS consent . . . . . . . . . . . . . . . . . . . . b Enter the dates on which the 24- or 60-month measuring period begins and ends . c Enter the adjusted basis of the building as of the beginning date above (or the first day of your holding period, if later) . . . . . . . . . . . . . . $ a d Enter the amount of the qualified rehabilitation expenditures incurred, or treated as incurred, during the period on line 11b above . . . . . . . . . . . $ Enter the amount of qualified rehabilitation expenditures and multiply by the percentage shown: e Pre-1936 buildings under the transition rule (see instructions) . . $ × 10% (0.10) f Certified historic structures under the transition rule (see instructions) $ × 20% (0.20) g Certified historic structures with expenditures paid or incurred × 4% (0.04) after 2017 and not under the transition rule (see instructions) . . $ Note: This credit is allowed for a 5-year period beginning in the tax year that the qualified rehabilitated building is placed in service. For properties identified on line 11f or 11g, complete lines 11h and 11i. h Enter the assigned NPS project number or the pass-through entity’s employer identification number (see instructions) . . . . . . . . . i Enter the date that the NPS approved the Request for Certification of Completed Work (see instructions) . . . . . . . . . . . . . 12 Energy credit: a Basis of property using geothermal energy placed in service during the tax year. See instructions . . . . . . . . . . . . $ × 30% (0.30) b Basis of property using solar illumination or solar energy placed in service during the tax year that is attributable to periods after 2005, the construction of which began before 2020 or after 2021 × 30% (0.30) (see instructions) . . . . . . . . . . . . . . . . $ c d e f g h i j k l m n o p Basis of property using solar illumination or solar energy placed in service during the tax year, the construction of which began in 2020 or 2021 (see instructions) . . . . . . . . . . . . $ Reserved for future use . . . . . . . . . . . . . . . . . . . Qualified fuel cell property (see instructions): Basis of property placed in service during the tax year that was acquired after 2005 and before October 4, 2008, and the basis attributable to construction, reconstruction, or erection by the taxpayer after 2005 and $ before October 4, 2008 . . . . . . × 30% (0.30) Applicable kilowatt capacity of property on line 12e (see instructions) . . . . . . . . . . . × $1,000 Enter the smaller of line 12e or line 12f . . . . . . . . . . . . . . Basis of property placed in service during the tax year that is attributable to periods after October 3, 2008, the construction of $ × 30% (0.30) which began before 2020 or after 2021 . Applicable kilowatt capacity of property on line 12h (see instructions) . . . . . . . . . . . × $3,000 Enter the smaller of line 12h or line 12i . . . . . . . . . . . . . . Basis of property placed in service during the tax year, the construction of which began in 2020 or 2021 . . . . . . . $ × 30% (0.30) Applicable kilowatt capacity of property on line 12k × $3,000 (see instructions) . . . . . . . . . . . Enter the smaller of line 12k or line 12l . . . . . . . . . . . . . . Reserved for future use . . . . . . . . . . . . . . . . . . Reserved for future use . . . . . . . . . . . . . . . . . . Reserved for future use . . . . . . . . . . . . . . . . . . . . × 30% (0.30) . . . . 11e 11f 11g 12a 12b 12c 12d . . 12f . . . . . . . 12g . . . . . 12j . . . . . 12m . . . . . 12p 12e 12h 12i . . 12k 12l . . 12n 12o . . Form 3468 (2022) Page 3 Form 3468 (2022) Part III Rehabilitation Credit and Energy Credit (continued) Qualified microturbine property (see instructions): q Basis of property placed in service during the tax year that was acquired after 2005, the basis attributable to construction, reconstruction, or erection by the taxpayer after 2005 . . . . . . . . . . . $ × 10% (0.10) 12q r Kilowatt capacity of property on line 12q . . . . × $200 12r s Enter the smaller of line 12q or line 12r . . . . . . . . . . . . . . . . . . . . . Combined heat and power system property (see instructions): Caution: You can’t claim this credit if the electrical capacity of the property is more than 50 megawatts or has a mechanical energy capacity of more than 67,000 horsepower or an equivalent combination of electrical and mechanical energy capabilities. t Basis of property placed in service during the tax year. See instructions. For property placed in service after 2022, multiply by 30% instead of 10% . . . . . . . $ × 10% (0.10) 12t u If the electrical capacity of the property is measured in: • Megawatts, divide 15 by the megawatt capacity. Enter 1.0 if the capacity is 15 megawatts or less. v • Horsepower, divide 20,000 by the horsepower. Enter 1.0 if the capacity is 20,000 horsepower or less . . . . . . . . . . . . . . . . . 12u Multiply line 12t by line 12u . . . . . . . . . . . . . . . . . . . . Qualified small wind energy property (see instructions): w Basis of property placed in service during the tax year that was acquired after October 3, 2008, and before 2009 and the basis attributable to the construction, reconstruction, or erection by the taxpayer after October 3, 2008, and before 2009 . $ × 30% (0.30) 12w x Enter the smaller of line 12w or $4,000 . . . . . . . . . . . . . . . . y Basis of property placed in service during the tax year that is attributable to periods after 2008, the construction of which began before 2020 or after 2021 . . . . . . . . . . . . . $ 12s . . . . . . 12v . . . . . 12x × 30% (0.30) 12y z Basis of property placed in service during the tax year, the construction of which began in 2020 or 2021 . . . . . . . $ aa Reserved for future use . . . . . . . . . . . . . . . . Waste energy recovery property: bb Basis of property placed in service during the tax year. See instructions . . . . . . . . . . . . . . . . . . $ . . . . . . × 30% (0.30) 12z . . . . 12aa × 30% (0.30) 12bb Geothermal heat pump systems (see instructions): cc Basis of property placed in service during the tax year. See instructions. For property placed in service after 2022, multiply by 30% instead of 10% . . . . . . . . . . . . . . . $ × 10% (0.10) Qualified investment credit facility property (see instructions): dd Basis of property placed in service during the tax year . . . . $ × 30% (0.30) ee Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . ff Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . gg Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . hh Other energy credits and special adjustments (see instructions) . . . . . . . . . . . . 13 Enter the applicable unused investment credit from cooperatives (see instructions) . . . . . . 14 Combine lines 11e, 11f, 11g, 12a, 12b, 12c, 12g, 12j, 12m, 12s, 12v, 12x, 12y, 12z, 12bb, 12cc, 12dd, 12hh, and 13. Report this amount on Form 3800, Part III, line 4a . . . . . . . . . . . . . 12cc 12dd 12ee 12ff 12gg 12hh 13 14 Form 3468 (2022)
2022 Form 3468
More about the Federal Form 3468 Corporate Income Tax Tax Credit TY 2022
We last updated the Investment Credit in February 2023, so this is the latest version of Form 3468, fully updated for tax year 2022. You can download or print current or past-year PDFs of Form 3468 directly from TaxFormFinder. You can print other Federal tax forms here.
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Publication 15 | Employer's Tax Guide |
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Form Sources:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 3468 from the Internal Revenue Service in February 2023.
Form 3468 is a Federal Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form 3468
We have a total of eleven past-year versions of Form 3468 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2012 Form 3468

2011 Form 3468
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