Form 3468, Investment Credit, is used to calculate and report several federal investment-related tax credits connected with qualifying energy property, advanced energy projects, advanced manufacturing investments, clean electricity facilities, rehabilitation projects, and certain other qualifying property. The 2025 version contains seven major parts covering information about the property or facility, advanced coal and gasification projects, qualifying advanced energy projects, advanced manufacturing, clean electricity investments, energy credits, and rehabilitation credits. Depending on the type of project, the form may request the property’s tax basis, construction and placed-in-service dates, electricity or storage capacity, emissions information, bonus-credit eligibility, project control numbers, financing information, pass-through entity details, and other technical data. Some portions also calculate additional credits for domestic content, energy communities, or qualifying low-income community projects. Form 3468 is attached to the taxpayer’s federal income tax return, and several calculated credit amounts are ultimately carried to Form 3800. f3468 Completing the applicable sections accurately is important because the percentage used, project classification, capacity, financing arrangements, and eligibility for bonus credits can significantly affect the credit claimed.
How To File Form 3468
Complete Form 3468 for the tax year in which the applicable property, facility, project, or rehabilitation expenditure qualifies for the investment credit. Attach the completed form to your federal income tax return.
Several sections direct you to transfer the final credit to specific lines of Form 3800, General Business Credit. Follow those transfer instructions for every part that applies to you.
Before beginning, gather the records relevant to your project. Depending on the credit, you may need:
- The taxpayer’s name and identifying number.
- The project’s type, address, and geographic coordinates.
- Construction and placed-in-service dates.
- Tax basis or qualified investment records.
- Solar, wind, storage, or other capacity information.
- IRS registration numbers for elective payment or transfer elections.
- Department of Energy emissions information or control numbers.
- Low-income community allocation information.
- Section 48C allocation information.
- Pass-through entity EINs.
- Records involving subsidized financing, private activity bonds, or tax-exempt bonds.
- Clean hydrogen verification information.
- National Park Service information for rehabilitation projects.
- Records supporting domestic content, energy community, prevailing wage, and apprenticeship qualifications.
Only complete the portions that apply to the property or credit you are claiming.
How To Complete Form 3468
At the top of the form, provide the taxpayer information exactly as it appears on the associated tax return.
Name(s) Shown On Return
Enter the individual, business, estate, trust, or other taxpayer name shown on the federal return to which Form 3468 will be attached.
Identifying Number
Enter the identifying number associated with the taxpayer named above, such as the applicable taxpayer identification number.
Part I: Information On Qualified Property Or Qualified Facility
Part I collects basic identifying and eligibility information about the property, facility, or project. Many calculations later in the form depend on the answers provided here.
Line 1: IRS Registration Number
If you are making an elective payment election or a transfer election, enter the IRS-issued registration number for the facility.
Line 2a(i): Emissions Value Or Rate
For a qualified clean hydrogen facility, enter its emissions value or rate in kilograms of CO2e per kilogram of qualified clean hydrogen.
Line 2a(ii): DOE Control Number
Enter the Department of Energy control number when one applies to the facility.
Line 2b: Provisional Emissions Rate Petition
Complete this portion if you petitioned for a provisional emissions rate.
Line 2b(i): DOE Emissions Value
Check this box if an emissions value was received from the Department of Energy.
Line 2b(ii): Lifecycle Analysis Model
Check this box if a designated lifecycle analysis model was used to determine the emissions value.
Line 2b(iii): DOE Control Number
Enter the DOE control number when applicable to the provisional emissions rate determination.
Line 3a: Property Or Facility Type
Identify the type of project or property, such as solar, clean hydrogen, rehabilitation property, or another applicable category.
Line 3b(i): Owner’s Name
If the owner is different from the person or entity filing the form, enter the owner’s name.
Line 3b(ii): Owner’s TIN
If the owner differs from the filer, enter that owner’s taxpayer identification number.
Line 3c: Facility Address
Enter the facility’s address when an address applies.
Line 3d(i): Latitude
Enter the facility’s latitude. Include either a plus or minus sign in the first position, as required by the form.
Line 3d(ii): Longitude
Enter the facility’s longitude and include the appropriate plus or minus sign.
Line 3e: Qualified Interconnection Property
Check the box if the property includes qualified interconnection property under section 48(a)(8) or section 48E(b)(1)(B).
Line 4: Date Construction Began
Enter the date construction started using the MM/DD/YYYY format.
Line 5: Date Placed In Service
Enter the date the property or facility was placed in service using MM/DD/YYYY format.
Line 6: Expansion Of Existing Facility
Check Yes if the facility represents an expansion of an existing facility. Otherwise, check No.
Line 7: Output Below 1 Megawatt
Indicate whether the project produces less than 1 MW of alternating-current net output or the equivalent amount of thermal energy.
- Check 7a for Yes.
- Check 7b for No.
- Check 7c if the question does not apply because the facility does not produce electricity.
Line 8: Prevailing Wage And Apprenticeship Requirements
Choose the option that describes whether the property, facility, or project satisfies the applicable prevailing wage and apprenticeship rules.
Line 8a
Select this option if the requirements are satisfied under sections 48C(e)(5) and (6) and the project was declared as provided under Notice 2023-18.
Line 8b
Select this option when the applicable construction-date or prevailing wage and apprenticeship provisions listed on the form are satisfied.
Line 8c
Select this option when the property does not satisfy the applicable requirements.
Line 8d
Select this option when the requirements do not apply.
Line 9: Domestic Content Bonus Credit
Indicate whether the project qualifies for the domestic content bonus.
Line 9a
Check this option when the applicable requirements are satisfied and the project qualifies for a 10% bonus. Attach the required supporting information.
Line 9b
Check this option when the project qualifies for the domestic content bonus but the specified requirements are not satisfied, resulting in a 2% bonus. Attach the required information.
Line 9c
Check No if the project does not qualify.
Line 10: Energy Community Bonus Credit
Indicate whether the project qualifies for an energy community bonus.
Line 10a
Check this option when the applicable requirements are satisfied and the project qualifies for a 10% bonus.
Line 10b
Check this option when the project qualifies but the specified requirements are not satisfied, resulting in a 2% bonus.
Line 10c
Check No if the project does not qualify.
Line 11: Low-Income Communities Bonus Credit
Complete this question if the facility received an allocation of capacity limitation and may qualify for the low-income communities bonus.
Line 11a
Check this option for a qualifying facility located in a low-income community. The listed bonus is 10%.
Line 11b
Check this option for a qualifying facility located on Indian land. The listed bonus is 10%.
Line 11c
Check this option for a qualified low-income residential building project facility. The listed bonus is 20%.
Line 11d
Check this option for a qualified low-income economic benefit project facility. The listed bonus is 20%.
Line 11e: Control Number
If you checked line 11a, 11b, 11c, or 11d, enter the applicable section 48(e) or 48E(h) control number.
Line 11f: Pass-Through Entity EIN
If applicable, enter the EIN of the originating pass-through entity.
Line 11g
Check No when the project does not qualify for the low-income communities bonus.
Line 12: Capacity Information
Complete the subsection that matches the type of property or facility.
Line 12a(i): Solar DC Capacity
Enter the solar property’s direct-current nameplate capacity in kilowatts.
Line 12a(ii): Solar AC Capacity
Enter its alternating-current nameplate capacity in kilowatts.
Line 12a(iii): Solar Tracking Device
Check the box if the solar property or facility includes a solar tracking device.
Line 12b: Wind Capacity
Enter the wind property’s AC nameplate capacity in kilowatts.
Line 12c(i): Other Property Type
Identify the type of property if it is not solar or wind.
Line 12c(ii): Other Property Capacity
Enter the property’s nameplate capacity in kilowatts.
Line 12c(iii): AC Or DC
Indicate whether the capacity entered is AC or DC.
Line 12d(i): Energy Storage Power Capacity
Enter the energy storage property’s power capacity rating in kilowatts.
Line 12d(ii): Energy Storage Capacity
Enter the storage capacity in kilowatt-hours.
Line 12d(iii): Thermal Storage
Answer Yes or No to indicate whether energy storage installed with a solar or wind facility is thermal storage.
Line 12e: Not Applicable
Select this option when none of the capacity categories applies.
Line 13: Lessee Election
Answer Yes or No to indicate whether you are claiming the investment credit as a lessee under the specified section 48(d) election. If Yes, complete lines 13a through 13e. For multiple properties, report the requested details separately for each property on an attached statement.
Line 13a: Lessor’s Name
Enter the lessor’s name.
Line 13b: Lessor’s Address
Enter the lessor’s address.
Line 13c: Property Description
Describe the property involved in the lessee election.
Line 13d: Deemed Acquisition Amount
Enter the amount for which you were treated as having acquired the property.
Line 13e: Income Inclusion Amount
Enter the income inclusion amount reported for the tax year under Regulations section 1.50-1.
Part II: Qualifying Advanced Coal Project Credit And Qualifying Gasification Project Credit
Section A: Qualifying Advanced Coal Project Credit Under Section 48A
Line 1a: Integrated Gasification Combined Cycle Property
Enter the qualified investment in property placed in service during the tax year for a project described in section 48A(d)(3)(B)(i).
Line 1b: Credit Calculation
Multiply line 1a by 20%.
Line 2a: Advanced Coal-Based Generation Property
Enter the qualified investment for qualifying property described in section 48A(d)(3)(B)(ii).
Line 2b: Credit Calculation
Multiply line 2a by 15%.
Line 3a: Additional Advanced Coal-Based Property
Enter the qualified investment for qualifying property described in section 48A(d)(3)(B)(iii).
Line 3b: Credit Calculation
Multiply line 3a by 30%.
Section B: Qualifying Gasification Project Credit Under Section 48B
Line 4a: Qualified Gasification Investment
Enter qualified investment in property placed in service during the year for which credits were allocated or reallocated after October 3, 2008, when the project includes equipment that separates and sequesters at least 75% of its carbon dioxide emissions.
Line 4b: Credit Calculation
Multiply line 4a by 30%.
Line 5a: Other Qualified Gasification Property
Enter qualified investment in qualifying gasification property placed in service during the year that is not included on line 4a.
Line 5b: Credit Calculation
Multiply line 5a by 20%.
Line 6: Unused Cooperative Investment Credit
Enter any applicable unused investment credit from cooperatives.
Line 7: Total Part II Credit
Add lines 1b, 2b, 3b, 4b, 5b, and 6. Report the total on Form 3800, Part III, line 1a.
Part III: Qualifying Advanced Energy Project Credit Under Section 48C
Do not claim an investment credit for the same facility or property under section 48C if a section 45X credit was also claimed for that property.
Line 1a: Qualified Advanced Energy Investment
Enter the qualified investment in advanced energy project property placed in service during the tax year.
Line 1b: Applicable Percentage
Enter 30% if Part I, line 8a was checked and that treatment is consistent with the section 48C application under Notice 2023-18. Enter 6% if Part I, line 8c was checked.
Line 1c: Credit Amount
Multiply line 1a by line 1b.
Line 1d: Section 48C Allocation Control Number
Enter the project’s section 48C allocation control number.
Line 1e: Energy Community Census Tract
Answer Yes or No to indicate whether the facility is located in a section 48C energy community census tract.
Line 1f: Pass-Through Entity EIN
Enter the originating pass-through entity’s EIN when applicable.
Line 2: Unused Cooperative Credit
Enter any applicable unused investment credit received from cooperatives.
Line 3: Total Section 48C Credit
Add lines 1c and 2. Report the result on Form 3800, Part III, line 1d.
Part IV: Advanced Manufacturing Investment Credit Under Section 48D
Line 1a: Project Type
Check the box for either a semiconductor manufacturing facility or a semiconductor equipment manufacturing facility.
Line 1b: Qualified Investment Basis
Enter the basis of the qualified investment for the tax year relating to the advanced manufacturing facility.
Line 1c: Credit Calculation
Multiply line 1b by 25%. For property placed in service after 2025, the form specifies 35%.
Line 2: Unused Cooperative Credit
Enter any applicable unused investment credit from cooperatives.
Line 3: Total Advanced Manufacturing Credit
Add lines 1c and 2. Report the result on Form 3800, Part III, line 1o.
Part V: Clean Electricity Investment Credit Under Section 48E
Do not use this part for a facility when an investment credit under the listed sections was previously allowed for that same facility.
Section A: Qualified Clean Electricity Facilities
Line 1a: Qualified Facility Basis
Enter the basis of qualified investment in a section 48E(b)(1) facility placed in service during the tax year.
Line 1b: Basic Credit Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise, enter 6%. Qualified fuel cell property may require separate treatment.
Line 1c: Basic Credit
Multiply line 1a by line 1b.
Line 1d: Domestic Content Percentage
Enter 10% when Part I, line 9a is checked or 2% when line 9b is checked. If neither applies, continue to line 1f.
Line 1e: Domestic Content Credit
Multiply line 1a by line 1d.
Line 1f: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. If neither applies, continue to line 1h.
Line 1g: Energy Community Credit
Multiply line 1a by line 1f.
Line 1h: Low-Income Bonus Percentage
Enter 10% if Part I, line 11a or 11b applies. Enter 20% if line 11c or 11d applies. If the facility fails the capacity or eligibility conditions specified on the form, enter 0%, enter zero on line 1n, and continue to line 2.
Line 1i: Allocated Capacity Limitation
Enter the capacity limitation allocated to the facility in the allocation letter.
Line 1j: Full Allocation Calculation
If the applicable capacity shown in Part I equals line 1i, multiply line 1a by line 1h and carry that result to line 1n. Otherwise continue to line 1k.
Line 1k: Capacity Ratio
If the applicable Part I capacity exceeds line 1i, divide line 1i by the applicable capacity from Part I.
Line 1l: Adjusted Bonus Percentage
Multiply line 1h by line 1k.
Line 1m: Adjusted Low-Income Bonus
Multiply line 1a by line 1l.
Line 1n: Allowed Low-Income Bonus
If the Part I capacity exceeds line 1i, enter line 1m. Otherwise, enter line 1j.
Line 2: Total Qualified Facility Credit
Add lines 1c, 1e, 1g, and 1n.
Section B: Qualified Energy Storage Technology
Line 3a: Qualified Storage Basis
Enter the basis of qualifying section 48E(c) energy storage technology placed in service during the tax year.
Line 3b: Basic Credit Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise, enter 6%.
Line 3c: Basic Storage Credit
Multiply line 3a by line 3b.
Line 3d: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 3f.
Line 3e: Domestic Content Credit
Multiply line 3a by line 3d.
Line 3f: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 4.
Line 3g: Energy Community Credit
Multiply line 3a by line 3f.
Lines 3h Through 3n: Reserved
Do not enter amounts on these lines unless future instructions specifically require it.
Line 4: Total Energy Storage Credit
Add lines 3c, 3e, and 3g.
Section C: Totals, Financing Reduction, And Credit Phaseout
Line 5: Combined Section 48E Credit
Add Part V, lines 2 and 4.
If subsidized energy financing or private activity bond proceeds were not used to finance the qualified facility or storage technology, skip line 6 and continue to line 7.
Line 6a: Financing Ratio
Divide the total subsidized energy financing and private activity bond proceeds used for the qualified property, including the current and prior years, by the aggregate additions to the property’s capital account through the end of the tax year.
Line 6b: Financing-Based Reduction
Multiply line 5 by line 6a.
Line 6c: Maximum 15% Reduction
Multiply line 5 by 15%.
Line 6d: Allowed Reduction
Enter the smaller of line 6b or line 6c.
Line 6e: Credit After Financing Reduction
Subtract line 6d from line 5.
Line 7: Credit After Financing Adjustment
If subsidized financing or private activity bonds were used, enter line 6e. Otherwise enter line 5.
Line 8: Elective Payment Phaseout
If an elective payment election under section 6417 is being made and the facility falls within the conditions listed on the form, multiply line 7 by the applicable construction-year percentage: 90% for construction beginning in 2024, 85% for 2025, or 0% for construction beginning after 2025. Taxpayers outside those conditions enter line 7 without the reduction.
Line 9: Reserved
Leave this line unused unless later instructions provide otherwise.
Line 10: Unused Cooperative Credit
Enter the applicable unused investment credit from cooperatives.
Line 11: Total Clean Electricity Investment Credit
Add lines 8 and 10. Report the result on Form 3800, Part III, line 1v.
Part VI: Energy Credit Under Section 48
Section A: Geothermal Energy Credit
Line 1a: Geothermal Property Basis
Enter the basis of geothermal energy property placed in service during the year.
Line 1b: Applicable Energy Percentage
Enter the applicable percentage for the geothermal property.
Line 1c: Basic Geothermal Credit
Multiply line 1a by line 1b.
Line 1d: Domestic Content Percentage
Enter 10% if Part I, line 9a applies or 2% if line 9b applies. Otherwise continue to line 1f.
Line 1e: Domestic Content Credit
Multiply line 1a by line 1d.
Line 1f: Energy Community Percentage
Enter 10% if Part I, line 10a applies or 2% if line 10b applies. Otherwise continue to line 2.
Line 1g: Energy Community Credit
Multiply line 1a by line 1f.
Line 2: Total Geothermal Credit
Add lines 1c, 1e, and 1g.
Section B: Solar Energy Credit
Line 3a: Solar Property Basis
Enter the basis of qualifying solar illumination property, including electrochromic glass, solar energy property, or a solar facility placed in service during the year.
Line 3b: Applicable Energy Percentage
Enter the applicable energy percentage.
Line 3c: Basic Solar Credit
Multiply line 3a by line 3b.
Certain property described in section 48(a)(3)(ii) does not qualify for the low-income community solar bonus. For that property, skip lines 3d through 3j and continue with line 3k.
Line 3d: Low-Income Bonus Percentage
Enter 10% when Part I, line 11a or 11b applies and 20% when line 11c or 11d applies. Enter 0% when the facility fails the capacity or other eligibility condition stated on the form.
Line 3e: Capacity Limitation
Enter the DC capacity limitation allocated in the project’s allocation letter.
Line 3f: Full Allocation Calculation
If Part I, line 12a(i) equals line 3e, multiply line 3a by line 3d and carry the result to line 3j. Otherwise continue to line 3g.
Line 3g: Capacity Ratio
If Part I, line 12a(i) is greater than line 3e, divide line 3e by Part I, line 12a(i).
Line 3h: Adjusted Bonus Rate
Multiply line 3d by line 3g.
Line 3i: Adjusted Bonus Amount
Multiply line 3a by line 3h.
Line 3j: Low-Income Bonus Credit
Enter line 3i if Part I capacity exceeds line 3e. Otherwise enter the amount from line 3f.
Line 3k: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 3m.
Line 3l: Domestic Content Credit
Multiply line 3a by line 3k.
Line 3m: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 4.
Line 3n: Energy Community Credit
Multiply line 3a by line 3m.
Line 4: Total Solar Energy Credit
Add lines 3c, 3j, 3l, and 3n.
Section C: Qualified Fuel Cell Property
Line 5a: Older Qualified Fuel Cell Property Basis
Enter the applicable basis of qualified fuel cell property placed in service during the tax year that relates to the acquisition or taxpayer construction periods specified on the form before October 4, 2008.
Line 5b: 30% Calculation
Multiply line 5a by 30%.
Line 5c: Kilowatt Capacity
Enter the applicable kilowatt capacity of the property reported on line 5a.
Line 5d: Capacity-Based Limit
Multiply line 5c by $1,000.
Line 5e: Allowed Amount
Enter the smaller of line 5b or line 5d.
Line 5f: Post-October 3, 2008 Fuel Cell Basis
Enter the basis of qualified fuel cell property placed in service during the year attributable to periods after October 3, 2008.
Line 5g: Basic Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise enter 6%.
Line 5h: Basic Credit
Multiply line 5f by line 5g.
Line 5i: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 5l.
Line 5j: Domestic Content Credit
Multiply line 5f by line 5i.
Line 5k: Reserved
Leave this line unused.
Line 5l: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 5n.
Line 5m: Energy Community Credit
Multiply line 5f by line 5l.
Line 5n: Preliminary Credit
Add lines 5h, 5j, and 5m.
Line 5o: Applicable Capacity
Enter the applicable kilowatt capacity for property reported on line 5f.
Line 5p: Capacity-Based Maximum
Multiply line 5o by $3,000.
Line 5q: Allowed Post-2008 Credit
Enter the smaller of line 5n or line 5p.
Line 6: Total Fuel Cell Credit
Add lines 5e and 5q.
Section D: Qualified Microturbine Property
Line 7a: Microturbine Basis
Enter the applicable basis of qualified microturbine property placed in service during the year that satisfies the acquisition or construction timing requirements shown on the form.
Line 7b: Basic Percentage
Enter 10% if Part I, line 7a or 8b applies. Otherwise enter 2%.
Line 7c: Basic Credit
Multiply line 7a by line 7b.
Line 7d: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 7g.
Line 7e: Domestic Content Credit
Multiply line 7a by line 7d.
Line 7f: Reserved
Leave this line unused.
Line 7g: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 7i.
Line 7h: Energy Community Credit
Multiply line 7a by line 7g.
Line 7i: Preliminary Microturbine Credit
Add lines 7c, 7e, and 7h.
Line 7j: Kilowatt Capacity
Enter the applicable kilowatt capacity of the property reported on line 7a.
Line 7k: Reserved
Leave this line unused.
Line 7l: Capacity Limitation
Multiply line 7j by $200.
Line 8: Allowed Microturbine Credit
Enter the smaller of line 7i or line 7l.
Section E: Combined Heat And Power System Property
This credit is not available if the property’s electrical capacity exceeds 50 MW, its mechanical capacity exceeds 67,000 horsepower, or an equivalent combined capacity exceeds the applicable limit.
Line 9a: Property Basis
Enter the basis of the combined heat and power system property placed in service during the tax year.
Line 9b: Capacity Fraction
If capacity is measured in MW, divide 15 by the MW capacity. Enter 1.0 when capacity is 15 MW or less. If measured in horsepower, divide 20,000 by the horsepower capacity and enter 1.0 when capacity is 20,000 horsepower or less.
Line 9c: Adjusted Basis
Multiply line 9a by line 9b.
Line 9d: Basic Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise enter 6%.
Line 9e: Basic Credit
Multiply line 9c by line 9d.
Line 9f: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 9h.
Line 9g: Domestic Content Credit
Multiply line 9c by line 9f.
Line 9h: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 10.
Line 9i: Energy Community Credit
Multiply line 9c by line 9h.
Line 10: Total Combined Heat And Power Credit
Add lines 9e, 9g, and 9i.
Section F: Qualified Small Wind Energy Property
Lines 11a Through 11c: Reserved
Leave these lines unused.
Line 11d: Small Wind Property Basis
Enter the basis of qualifying small wind energy property placed in service during the year.
Line 11e: Basic Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise enter 6%.
Line 11f: Basic Credit
Multiply line 11d by line 11e.
Line 11g: Low-Income Bonus Percentage
Enter 10% when Part I, line 11a or 11b applies and 20% when line 11c or 11d applies. Enter 0% if the applicable eligibility or capacity conditions are not met.
Line 11h: Allocated Capacity
Enter the capacity limitation shown in the allocation letter.
Line 11i: Full Allocation Calculation
If Part I, line 12b equals line 11h, multiply line 11d by line 11g and carry the result to line 11m. Otherwise continue to line 11j.
Line 11j: Capacity Ratio
If Part I, line 12b exceeds line 11h, divide line 11h by Part I, line 12b.
Line 11k: Adjusted Bonus Percentage
Multiply line 11g by line 11j.
Line 11l: Adjusted Bonus Amount
Multiply line 11d by line 11k.
Line 11m: Allowed Low-Income Bonus
If Part I, line 12b exceeds line 11h, enter line 11l. Otherwise enter line 11i.
Line 11n: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 11p.
Line 11o: Domestic Content Credit
Multiply line 11d by line 11n.
Line 11p: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 12.
Line 11q: Energy Community Credit
Multiply line 11d by line 11p.
Line 12: Total Small Wind Credit
Add lines 11f, 11m, 11o, and 11q.
Section G: Waste Energy Recovery Property
Line 13a: Property Basis
Enter the basis of qualifying waste energy recovery property placed in service during the year.
Line 13b: Basic Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise enter 6%.
Line 13c: Basic Credit
Multiply line 13a by line 13b.
Line 13d: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 13f.
Line 13e: Domestic Content Credit
Multiply line 13a by line 13d.
Line 13f: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 14.
Line 13g: Energy Community Credit
Multiply line 13a by line 13f.
Line 14: Total Waste Energy Recovery Credit
Add lines 13c, 13e, and 13g.
Section H: Geothermal Heat Pump Systems
Line 15a: Heat Pump Basis
Enter the basis of qualifying geothermal heat pump systems placed in service during the year.
Line 15b: Basic Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise enter 6%.
Line 15c: Basic Credit
Multiply line 15a by line 15b.
Line 15d: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 15f.
Line 15e: Domestic Content Credit
Multiply line 15a by line 15d.
Line 15f: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 16.
Line 15g: Energy Community Credit
Multiply line 15a by line 15f.
Line 16: Total Geothermal Heat Pump Credit
Add lines 15c, 15e, and 15g.
Section I: Energy Storage Technology Property
Line 17a: Storage Property Basis
Enter the basis of qualifying energy storage technology placed in service during the year.
Line 17b: Basic Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise enter 6%.
Line 17c: Basic Credit
Multiply line 17a by line 17b.
The low-income bonus calculation on lines 17d through 17j applies only when the storage property is installed in connection with qualifying solar or wind property that itself qualifies for the section 48(e) low-income community bonus. Otherwise, skip those lines and continue to line 17k.
Line 17d: Low-Income Bonus Percentage
Enter 10% when Part I, line 11a or 11b applies or 20% when line 11c or 11d applies. Enter 0% when the applicable capacity or other eligibility requirements are not met.
Line 17e: Allocated Capacity
Enter the capacity limitation allocated to the related solar or wind energy property.
Line 17f: Full Allocation Calculation
If the related Part I capacity equals line 17e, multiply line 17a by line 17d and carry the result to line 17j. Otherwise continue to line 17g.
Line 17g: Capacity Ratio
If the related Part I capacity is greater than line 17e, divide line 17e by that Part I capacity.
Line 17h: Adjusted Percentage
Multiply line 17d by line 17g.
Line 17i: Adjusted Bonus Amount
Multiply line 17a by line 17h.
Line 17j: Allowed Low-Income Bonus
If the related solar or wind capacity exceeds line 17e, enter line 17i. Otherwise enter line 17f.
Line 17k: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 17m.
Line 17l: Domestic Content Credit
Multiply line 17a by line 17k.
Line 17m: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 18.
Line 17n: Energy Community Credit
Multiply line 17a by line 17m.
Line 18: Total Energy Storage Credit
Add lines 17c, 17j, 17l, and 17n.
Section J: Qualified Biogas Property
Line 19a: Biogas Property Basis
Enter the basis of qualified biogas property placed in service during the year.
Line 19b: Basic Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise enter 6%.
Line 19c: Basic Credit
Multiply line 19a by line 19b.
Line 19d: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 19f.
Line 19e: Domestic Content Credit
Multiply line 19a by line 19d.
Line 19f: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 20.
Line 19g: Energy Community Credit
Multiply line 19a by line 19f.
Line 20: Total Biogas Credit
Add lines 19c, 19e, and 19g.
Section K: Microgrid Controllers Property
Line 21a: Microgrid Controller Basis
Enter the basis of qualifying microgrid controllers placed in service during the year.
Line 21b: Basic Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise enter 6%.
Line 21c: Basic Credit
Multiply line 21a by line 21b.
Line 21d: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 21f.
Line 21e: Domestic Content Credit
Multiply line 21a by line 21d.
Line 21f: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 22.
Line 21g: Energy Community Credit
Multiply line 21a by line 21f.
Line 22: Total Microgrid Controller Credit
Add lines 21c, 21e, and 21g.
Section L: Qualified Investment Credit Facility Property
Line 23a: Facility Property Basis
Enter the basis of qualifying investment credit facility property placed in service during the year.
Line 23b: Basic Percentage
Enter 30% if Part I, line 7a or 8b applies. Otherwise enter 6%.
Line 23c: Basic Credit
Multiply line 23a by line 23b.
For property other than the type specified in section 45(d)(1), skip lines 23d through 23j because the property does not qualify for the low-income community bonus tied to a wind facility.
Line 23d: Low-Income Bonus Percentage
Enter 10% when Part I, line 11a or 11b applies or 20% when line 11c or 11d applies. Enter 0% when the stated capacity or eligibility requirements are not met.
Line 23e: Allocated Capacity
Enter the capacity limitation shown in the allocation letter.
Line 23f: Full Allocation Calculation
If Part I, line 12b equals line 23e, multiply line 23a by line 23d and carry the result to line 23j. Otherwise continue to line 23g.
Line 23g: Capacity Ratio
If Part I, line 12b exceeds line 23e, divide line 23e by Part I, line 12b.
Line 23h: Adjusted Bonus Percentage
Multiply line 23d by line 23g.
Line 23i: Adjusted Bonus Amount
Multiply line 23a by line 23h.
Line 23j: Allowed Low-Income Bonus
If Part I, line 12b exceeds line 23e, enter line 23i. Otherwise enter line 23f.
Line 23k: Domestic Content Percentage
Enter 10% for Part I, line 9a or 2% for line 9b. Otherwise continue to line 23m.
Line 23l: Domestic Content Credit
Multiply line 23a by line 23k.
Line 23m: Energy Community Percentage
Enter 10% for Part I, line 10a or 2% for line 10b. Otherwise continue to line 24.
Line 23n: Energy Community Credit
Multiply line 23a by line 23m.
Line 24: Total Qualified Investment Credit Facility Amount
Add lines 23c, 23j, 23l, and 23n.
Section M: Clean Hydrogen Production Facilities As Energy Property
If specified clean hydrogen production property is treated as energy property, the form states that a credit cannot also be taken for that property under section 45V or 45Q. Production and the sale or use of clean hydrogen must also be verified by an unrelated party, and the verification report must accompany the return.
Line 25a: Section 45V(b)(2)(A) Property Basis
Enter the basis of property placed in service during the year for a facility designed and reasonably expected to produce qualified clean hydrogen within this category.
Line 25b: Applicable Percentage
Enter 6% if Part I, line 8b applies or 1.2% if Part I, line 8c applies.
Line 25c: Credit Amount
Multiply line 25a by line 25b.
Line 25d: Section 45V(b)(2)(B) Property Basis
Enter the applicable basis for property in this clean hydrogen category.
Line 25e: Applicable Percentage
Enter 7.5% when Part I, line 8b applies or 1.5% when line 8c applies.
Line 25f: Credit Amount
Multiply line 25d by line 25e.
Line 25g: Section 45V(b)(2)(C) Property Basis
Enter the applicable basis for property in this clean hydrogen category.
Line 25h: Applicable Percentage
Enter 10% if Part I, line 8b applies or 2% if line 8c applies.
Line 25i: Credit Amount
Multiply line 25g by line 25h.
Line 25j: Section 45V(b)(2)(D) Property Basis
Enter the applicable basis for property in this clean hydrogen category.
Line 25k: Applicable Percentage
Enter 30% if Part I, line 8b applies or 6% if line 8c applies.
Line 25l: Credit Amount
Multiply line 25j by line 25k.
Line 26: Total Clean Hydrogen Energy Credit
Add lines 25c, 25f, 25i, and 25l.
Section N: Totals And Credit Reduction For Tax-Exempt Bonds
Line 27: Total Section 48 Energy Credit
Add Part VI lines 2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22, 24, and 26.
If tax-exempt bond proceeds were not used to finance the facility, skip line 28 and continue to line 29.
Line 28a: Tax-Exempt Bond Financing Ratio
Divide the total proceeds of tax-exempt bonds used to finance the qualified facility, including current and prior tax years, by the aggregate additions to the facility’s capital account through the end of the tax year.
Line 28b: Bond-Based Reduction
Multiply line 27 by line 28a.
Line 28c: 15% Maximum Reduction
Multiply line 27 by 15%.
Line 28d: Applicable Reduction
Enter the smaller of line 28b or line 28c.
Line 28e: Credit After Bond Reduction
Subtract line 28d from line 27.
Line 29: Credit After Financing Adjustment
If tax-exempt bonds were used to finance the facility, enter line 28e. Otherwise enter line 27.
Line 30: Elective Payment Adjustment
If you are making a section 6417 elective payment election for a facility whose construction began in 2024 and the facility meets the conditions requiring the reduction described on the form, multiply line 29 by 90%. Otherwise enter the amount from line 29.
Line 31: Unused Cooperative Investment Credit
Enter the applicable unused investment credit from cooperatives.
Line 32: Total Energy Credit
Add lines 30 and 31. Report the result on Form 3800, Part III, line 4a.
Part VII: Rehabilitation Credit Under Section 47
Line 1a: Prior Section 170(h) Deduction
Answer Yes or No to indicate whether a section 170(h) deduction was previously taken for the property.
Line 1b: Prior NPS Number
If line 1a is Yes, enter the prior National Park Service number.
Line 1c: Section 47(d)(5) Election
Check this box if you elect to take qualified rehabilitation expenditures into account in the tax year they are paid, or when capitalized for self-rehabilitated property. The election applies to the current and later tax years and cannot be revoked without IRS consent.
Line 1d: Measuring Period
Enter the beginning and ending dates of the applicable 24-month or 60-month measuring period.
Line 1e: Adjusted Building Basis
Enter the building’s adjusted basis as of the beginning of the measuring period, or the first day of your holding period if that date is later.
Line 1f: Qualified Rehabilitation Expenditures During Measuring Period
Enter qualified rehabilitation expenditures incurred, or treated as incurred, during the period entered on line 1d.
Line 1g: Qualified Rehabilitation Expenditures
Enter the amount of qualified rehabilitation expenditures used for this line after applying the applicable rules.
Line 1h: Reserved
Leave this line unused.
Line 1i: Reserved
Leave this line unused.
Line 1j: Rehabilitation Credit Calculation
For a certified historic structure with qualifying expenditures, multiply line 1g by 4%. The form provides that the credit is allowed over a five-year period beginning with the tax year in which the qualified rehabilitated building is placed in service.
Line 1k(i): NPS Project Number
If line 1j was completed, enter the assigned National Park Service project number.
Line 1k(ii): Pass-Through Entity EIN
Enter the originating pass-through entity’s EIN when applicable.
Line 1k(iii): Certification Approval Date
Enter the date the National Park Service approved the Request for Certification of Completed Work.
Line 1l: Reserved
Leave this line unused.
Line 1m: Certification Not Yet Received
If approved certification of completed work has not been received, enter the date that falls 30 months after the date the original rehabilitation credit was claimed. Attach the first page of NPS Form 10-168 showing that it was received, along with a statement explaining that final certification had not been received before that date.
Line 2: Unused Cooperative Investment Credit
Enter the applicable unused investment credit from cooperatives.
Line 3: Total Rehabilitation Credit
Add lines 1j and 2. Report the result on Form 3800, Part III, line 4k.
Final Review Before Filing
Before attaching Form 3468 to your return, review the form carefully and confirm that:
- The taxpayer’s name and identifying number match the main tax return.
- You completed only the parts that apply to your project or property.
- All facility addresses, coordinates, project descriptions, and ownership information are accurate.
- Construction and placed-in-service dates are entered correctly.
- Registration numbers, DOE control numbers, allocation numbers, and NPS numbers are complete where required.
- All capacity figures use the correct measurement, including kW dc, kW ac, kWh, MW, or horsepower.
- Property basis and qualified investment amounts agree with your supporting records.
- Prevailing wage and apprenticeship selections are consistent with the credit percentage used later in the form.
- Domestic content, energy community, and low-income bonus percentages agree with the applicable Part I answers.
- Capacity-limited bonus calculations use the correct allocation amount and capacity ratio.
- Any reserved lines have been left unused.
- Subsidized financing, private activity bond, and tax-exempt bond reductions have been calculated when applicable.
- Cooperative investment credits have been included only on the appropriate lines.
- Clean hydrogen projects include any required independent verification information.
- Rehabilitation credit projects include the required NPS details and attachments when applicable.
- Every addition, multiplication, percentage calculation, and carryover from another line has been checked.
- Final credit amounts have been transferred to the correct Form 3800 lines.
- Any required supporting statements or other attachments are included with the return.
- Form 3468 is attached to the federal tax return before filing.