3468 Investment Credit

Tax Forms & Publications

Work Request Notification
Title: Form 3468, Investment Credit
Tax Year: 2009

Processing Year: 2010

Route to:

Approved:

Section Chief:

Rene Mondesir, Jr.

Rodney Holmes

Reviewer:

Sharon A. Dewsbury

Review Chief:

Johnny Cervantes
Johnny Cervantes
Carole Barnette, Acting Johnny Cervantes

Date:

Rodney Holmes

Digitally signed by Rodney Holmes
DN: cn=Rodney Holmes, [email protected], o=Tax Forms Pubs, ou=Pass Throughs, c=US
Date: 2009.09.25 07:14:07 -04'00'

Sharon Dewsbury

Digitally signed by Rodney Holmes
DN: cn=Rodney Holmes, [email protected], o=Tax Forms Pubs, ou=Pass Throughs, c=US
Date: 2009.09.25 07:14:16 -04'00'

Digitally signed by Sharon Dewsbury
DN: cn=Sharon Dewsbury, [email protected], c=US
Date: 2009.09.25 10:49:40 -04'00'

Digitally signed by Johnny Cervantes
DN: cn=Johnny Cervantes, o=Internal Revenue Service, ou=SE:
W:CAR:MP:T:B:R, [email protected], c=US
Reason: I am approving this document
Date: 2009.09.28 17:26:44 -04'00'

09/28/09

Digitally signed by Johnny Cervantes
DN: cn=Johnny Cervantes, o=Internal Revenue Service, ou=SE:W:
CAR:MP:T:B:R, [email protected], c=US
Reason: I am approving this document
Date: 2009.09.28 17:26:53 -04'00'

09/29/09

Senior Technical Advisor: Bob Erickson

ZR2MB
I am approving this document
2009.09.28 17:58:07 -04'00'

09/29/09

Initiator (Tax Law Specialist): Robert

ZR2MB
2009.09.28 17:59:03 -04'00'

09/29/09

Branch Chief:

B. Chapman

The information in this document can be used to develop any necessary Work Requests.
This notification is for changes due to:
✔ Legislation or Chief Counsel guidance:

Pub. L. 110-343 Div. B, section 103(c), (d), and (f)(2); Pub. L. 111-5, Div. B, sec. 1103(a) and (c)(1), and sec. 1302.

A Program change initiated by:
The major changes are as follows:
This is the second WRN for Form 3468, Investment Credit. The first WRN was circulated on 4/8/2009.
Line 7. Pub. L. 111-5, Div. B, § 1302 added IRC sec. 48C, which provides a credit for qualified advanced energy property for periods after 2/17/2009.
We have modified line 7 to indicate that the property must be placed in service after 2/17/09.
Lines 8 and 12. We have revised the text on line 8 and on line 12 to add "applicable" and "(see instructions)."
Lines 11a, b, f, i, l, q, and r. Pub. L. 109-58 § 1336 & 1337 and Pub. L. 110-343 § 103 added certain energy property, effective for applicable periods
under rules similar to § 48(m) as in effect 11/90. We have clarified lines 11a, b, f, i, l, q, and r to state the basis is limited as provided in that section.
Lines 11c through 11e. Pub. L. 110-343 Div. B, section 103(d), increased the limitation on the credit for qualified fuel cell property from $500 to $1500
per half-kilowatt for periods after 10/3/2008, under rules similar to section 48(m) as in effect November 1990. We have added lines 11c through 11e to
permit taxpayers to apply the prior limit. Other lines are re-lettered accordingly.
Lines 11o and 11p. Pub. L. 111-5, Div. B, § 1103(a), removes the $4,000 limitation for qualified small wind energy property for periods after 12/31/08
under rules similar to § 48(m) as in effect November 1990. We have added lines 11o and 11p to permit taxpayers to apply the prior limit. Other lines
are relettered.
Line 11t. We have deleted line 11t (line 11o on the prior WRN).

We may need to make further changes that would require a work request.
✔ We do not anticipate the need for any further changes that would require a Work Request.

If you have any questions, please contact:
Name: Robert B. Chapman

Name: Sharon A. Dewsbury

Title:

Title:

Tax Law Specialist

Tax Law Specialist (Reviewer)

Symbols: SE:W:CAR:MP:T:B:P

Symbols: SE:W:CAR:MP:T:B:R

Phone: (202) 927-9428

Phone: (202) 283-2157

Email: [email protected]

Email: [email protected]

Room: 6141

Room: NCFB C9-452

Version A, Cycle 4

Form

3468

Department of the Treasury
Internal Revenue Service (99)
Name(s) shown on return

Part I

OMB No. 1545-0155

Investment Credit
© Attach

2009

to your tax return. See instructions.

Attachment
Sequence No. 52
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.
Name of lessor
1
Address of lessor
2
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, and
Qualifying Advanced Energy Project Credit

DRAFT AS OF
June 29, 2009

Qualifying advanced coal project credit (see instructions):
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)
. . . . . . . $
3 20% (.20) 5a
b Qualified investment in advanced coal-based generation technology
property placed in service during the tax year for projects described in
section 48A(d)(3)(B)(ii) . . . . . $
3 15% (.15) 5b
c Qualified investment in advanced coal-based generation technology
property placed in service during the tax year for projects described in
section 48A(d)(3)(B)(iii) . . . . . $
3 30% (.30) 5c
d Total. Add lines 5a, 5b, and 5c . . . . . . . . . . . . . . . . .
6
Qualifying gasification project credit (see instructions):
a

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5d

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6c

a

Qualified investment in qualified gasification property placed in service
during the tax year for which credits were allocated or reallocated after
October 3, 2008, and that include equipment that separates and
sequesters at least 75% of the project’s carbon dioxide
emissions . . . . . . . . . $
3 30% (.30) 6a
b Qualified investment in property other than in a above placed in service
during the tax year . . . . . . $
3 20% (.20) 6b
c Total. Add lines 6a and 6b . . . . . . . . . . . . . . . . . .
7
Qualifying advanced energy project credit (see instructions):
Qualified investment in advanced energy project property placed in
service during the tax year . . . $
3 30% (.30) . . .
8
Credit from cooperatives. Enter the unused investment credit from cooperatives
9
Add lines 5d, 6c, 7 and 8. Report this amount on Form 3800, line 1a . . . .

after
February
17,
2009

Part III

(see instructions)

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Rehabilitation Credit and Energy Credit

7
8
9

10

dates

Rehabilitation credit (see instructions for requirements that must be met):
a 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 date 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) . . . . . . . . .
$
d Enter the amount of the qualified rehabilitation expenditures incurred, or
treated as incurred, during the period on line 10b above . . . . .
$
Enter the amount of qualified rehabilitation expenditures and multiply by the percentage shown:
$
3 13% (.13)
e Pre-1936 buildings located in the Gulf Opportunity Zone .
$
3 13% (.13)
f Pre-1936 buildings affected by a Midwestern disaster . .
$
3 10% (.10)
g Other pre-1936 buildings . . . . . . . . . . . .
h Certified historic structures located in the Gulf Opportunity
Zone . . . . . . . . . . . . . . . . . .
3 26% (.26)
$

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 12276E

applicable

10e
10f
10g
10h
Form 3468 (2009)

and solar energy (acquired before
Version A, Cycle 4
January 1, 2006, or the basis attributable
to construction, reconstruction, or erection
Page 2
by the taxpayer before January 1, 2006)

Insert attachment C
Form 3468 (2009)

Part III

10 i

j
k
l

Rehabilitation Credit and Energy Credit (continued)

Certified historic structures affected by a Midwestern disaster $
$
Other certified historic structures . . . . . . . .
For properties identified on lines 10h, 10i, or 10j, complete lines 10k and 10l.
Enter the assigned NPS project number or the pass-through entity’s
employer identification number (see instructions) . . . . . . . .
Enter the date that the NPS approved the Request for Certification of
Completed Work (see instructions) . . . . . . . . . . . .

3 26% (.26)
3 20% (.20)

10i
10j
that was acquired after
December 31, 2005, or the
basis attributable to
construction, reconstruction,
or erection by the taxpayer
after December 31, 2005,

m Rehabilitation credit from an electing large partnership (Schedule K-1 (Form 1065-B), box 9) . . 10m
Energy credit:
a Basis of property using geothermal energy placed in service during the
tax year (see instructions) . . . $
3 10% (.10) 11a
b Basis of property using solar illumination or solar energy placed in service
during the tax year (see instructions) $
3 30% (.30) 11b
Insert attachment D
Qualified fuel cell property (see instructions):
Insert attachment E
f
11f
c Basis of property installed during the tax
year
. $
3 30% (.30) 11c
Insert attachment F
g
d Kilowatt capacity of property in c
11g
above . . . ©
11h
3 $3,000 11d
h
g . . . . . . . . . . . . .
e Enter the lesser of line 11cf or 11d
11e
on line 11i
Qualified microturbine property (see instructions):
11i
i
f Basis of property installed during the tax
year
. $
3 10% (.10) 11f
j
g Kilowatt capacity of property in f
11j
above . . . . ©
3 $200 11g
11k
k
h Enter the lesser of line 11fi or 11gj . . . . . . . . . . . . . 11h
Combined heat and power system property (see instructions):
Caution: You cannot claim this credit if the electrical capacity of the property is more than 50 megawatts
Insert attachment G
placed in service
or 67,000 horsepower.
l
i Basis of property installed during the tax
Move this column,
year
. $
3 10% (.10) 11i
11l
lines 11f, g, i, j, l,
m
j If the electrical capacity of the property is measured in:
and m one column
● Megawatts, divide 15 by the megawatt
to the right; also
capacity. Enter 1.0 if the capacity is 15
Insert
megawatts or less.
apply to 11c and d
attachment H
11

DRAFT AS OF
June 29, 2009

● Horsepower, divide 20,000 by the
horsepower. Enter 1.0 if the capacity is
20,000 horsepower or less . . . . .

11m

.
11j
.
Multiply line 11il by 11jm . . . . . . . . . . . . . . . . 11k
Qualified small wind energy property (see instructions):
11q
l Basis of property installed during
q
the tax year . . . . . . . . $
3 30% (.30) 11l
Geothermal heat pump systems (see instructions):
placed in service
11r
m Basis of property installed during
r
the tax year . . . . . . . . $
3 10% (.10) 11m
Qualified investment credit facility property (see instructions):
s
n Basis of property installed during
11s
the tax year . . . . . . . . $
3 30% (.30) 11n
Delete
o Total. Add lines 11a, 11b, 11e, 11h, 11k, 11l, 11m, and 11n . . . . . . . . . . . . .
12
Credit from cooperatives. Enter the unused investment credit from cooperatives (see instructions)
13
Add lines 10e through 10j, 10m, 11o, and 12 . . . . . . . . . . . . . . . . . .
14
Rehabilitation and energy credits included on line 13 from passive activities . . . . . . . .
15
Subtract line 14 from line 13
. . . . . . . . . . . . . . . . . . . . . . .
16
Rehabilitation and energy credits allowed for 2009 from a passive activity
. . . . . . . .
17
Carryforward of the rehabilitation credit that originated after 2007 and the energy credit that
originated in a tax year that began after October 3, 2008 (see instructions) . . . . . . . .

n

on attachment C,
and 11o in attch. H

11n

k

18
19

Carryback of rehabilitation and energy credits from 2010 . . . .
Add lines 15 through 18. Report this amount on Form 3800, line 29a
Insert Attachment J

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Insert attachment I

Move the entries for lines
11a, 11b, 11e, 11h, 11k, 11n,
11p, 11q, 11r, and 11s to the
far right column.

11o
12
13
14
15
16
17
18
19
Form 3468 (2009)

11a, 11b, 11e, 11h, 11k, 11n,
11p, 11q, 11r, 11s,

applicable

Attachment C, p. 2, new lines 11 c through 11e
c Basis of property placed in service during the tax year that was acquired after
December 31, 2005, and before October 4, 2008, or the basis attributable to construction,
reconstruction, or erection by the taxpayer after December 31, 2005, and before October
4, 2008 ..............................$____________x 30% (.30)
| 11c |________ (left column)
d Applicable kilowatt capacity of property on line 11c (see instructions)
.........►_____________ x $1,000
| 11d |_________ (left column)
e Enter the lesser of line 11c or 11d.............................................................................| 11e |________
(right column)
Attachment D, on p.2, (renumbered) line 11f
placed in service during the tax year that was acquired after October 3, 2008, or the basis
attributable to construction, reconstruction, or erection by the taxpayer after October 3,
2008. . . . . . . .
Attachment E, on p.2, (renumbered) line 11g
Applicable kilowatt capacity of property on line 11f (see instructions)
Attachment F on p.2 at (renumbered) line 11i
placed in service during the tax year that was acquired after December 31, 2005, or the
basis attributable to construction, reconstruction, or erection by the taxpayer after
December 31, 2005. . . . .
Attachment G, p. 2 at (renumbered) line 11l
that was acquired after October 3, 2008, or the basis attributable to construction,
reconstruction, or erection by the taxpayer after October 3, 2008.
Attachment H, p. 2, new lines 11o and 11p
o Basis of property placed in service during the tax year that was acquired after October
3, 2008, and before January 1, 2009; or the basis attributable to the construction,
reconstruction, or erection by the taxpayer after October 3, 2008, and before January 1,
2009 . . . . . . . . . . $________x 30% (.30) | 11o |_________|__| (left column)
p Enter the smaller of line 11o or $4,000 . . . .. . . . . . . . . . . . . . . . . | 11p |__________|_| (right column)
Attachment I, p. 2, (renumbered) line 11q
placed in service during the tax year that was acquired after December 31, 2008, or the
basis attributable to construction, reconstruction, or erection by the taxpayer after
December 31, 2008.
Attachment J, p. 2 (renumbered) line 11r
that was acquired after October 3, 2008, or the basis attributable to construction, reconstruction,
or erection by the taxpayer after October 3, 2008