Screen 3468 - Facility Information (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

Enter the description of the facility or property for which you are claiming the credit. Enter “Unused Investment Credit from Cooperatives” if you are reporting an unused investment credit received from a cooperative.
The description of the facility or property is required for the Form 3468 to print.

Part I – Facility Information

If you are claiming an investment credit with respect to a facility or property, use the following table to enter the facility information that corresponds to your credit.
If you are completing
Then complete Part 1
Part II
Lines 1-5, and 14
Part III
Lines 1-5, and 8
Part IV
Lines 1-5, and 14
Part VI
Lines 1-14 (and Line A for credit figured in section M)
Part VII
Lines 1-5, and 14
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