3468 Investment Credit

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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

DRAFT AS OF
December 15, 2022
DO NOT FILE
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
11

Rehabilitation Credit and Energy Credit

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

DRAFT AS OF
December 15, 2022
DO NOT FILE
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.

DRAFT AS OF
December 15, 2022
DO NOT FILE
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)