IRS · Official form

Form 3468, Investment Credit

Form 3468 is where you claim the investment credit, a family of credits for money put into energy property, building rehabilitation, and qualifying advanced projects. Fill in the official IRS PDF below and download it.

Fill out 3468 in the editor Download the blank PDF Quick fill on this page

This is the genuine IRS PDF, unmodified. Source: IRS official page.

What is 3468?

Form 3468, Investment Credit, covers several credits under section 46, including the energy credit, the rehabilitation credit for certified historic structures, and credits for qualifying advanced coal, gasification, and advanced energy projects. Each credit has its own part of the form where you describe the property and figure the credit amount.

The result flows to Form 3800, General Business Credit, which combines it with your other business credits and applies the overall limits. Recent revisions of Form 3468 are long because energy credit rules have expanded, so expect to complete only the parts that match your property.

Who files 3468?

Businesses that placed qualifying energy property in service during the year
Owners rehabilitating certified historic buildings who qualify for the rehabilitation credit
Taxpayers with certified qualifying advanced coal, gasification, or advanced energy projects
Partnerships and S corporations, which file the form and pass the credit through to partners and shareholders

How to fill out 3468

Enter your name and identifying number as they appear on your tax return.
Complete the part of the form that matches your credit: facility and property information first, including address and placed-in-service date.
Enter the cost or basis of the qualifying property and apply the credit percentage for your property type.
If prevailing wage and apprenticeship requirements affect your credit rate, complete those certifications where the form asks.
Download the finished PDF and attach it to your return along with Form 3800, which carries the credit to your tax.

Quick fill 3468 on this page

Prefer to see the form itself while you type? Open 3468 in the editor to fill it on the actual pages, add a signature, and download.

These are the form's own fields, in the order they appear on the pages. Fill in what you know; anything left blank stays a fillable field in the PDF, so you can finish it in any PDF reader. Nothing you type here is sent to IRS.

Page 1 43 fields

Page 2 36 fields

Page 3 30 fields

1a. Enter the qualified investment in advanced energy project property placed in service during the tax year.

1b. If you checked the box in Part I, line 8a, and it’s consistent with your section 48C application, enter 30%. If you checked the box in

1c. Multiply line 1a by line 1b.

Your section 48C Allocation control number:

1e. Is the facility in a section 48C energy community census tract? Yes.

1e. No.

The originating pass-through entity’s EIN (if applicable):

2. Enter the applicable unused investment credit from cooperatives. See instructions.

3. Add lines 1c and 2. Report this amount on Form 3800, Part I I I, line 1d.

Semiconductor manufacturing facility

Semiconductor equipment manufacturing facility

1b. Enter the basis of the qualified investment for the tax year with respect to any advanced manufacturing facility.

1c. Multiply line 1b by 25% (0.25) (35% (0.35) for property placed in service after 2025).

2. Enter the applicable unused investment credit from cooperatives. See instructions.

3. Add lines 1c and 2. Report this amount on Form 3800, Part I I I, line 1o.

1a. Enter the basis of the qualified investment for any qualified facility described in section 48E(b)(1) placed in service during the tax

1b. If you checked Part I, line 7a or 8b, enter 30%. Otherwise, enter 6%. For qualified fuel cell property described under section

1c. Multiply line 1a by line 1b.

1d. If you checked Part I, line 9a, enter 10%. If you checked Part I, line 9b, enter 2%. Otherwise, go to line 1f

1e. Multiply line 1a by line 1d.

1f. If you checked Part I, line 10a, enter 10%. If you checked Part I, line 10b, enter 2%. Otherwise, go to line 1h

1g. Multiply line 1a by line 1f.

1h. If you checked the box in Part I, line 11a or 11b, enter 10%. If you checked the box in Part I, line 11c or 11d, enter 20%. However, if

1i. Enter the amount of capacity limitation you were allocated in the allocation letter. k W. kW

1j. If the entry on Part I, line 12a(i), 12b, or 12c(i i), equals the entry on line 1i, multiply line 1a by line 1h and go to line 1n.

1k. If the entry on Part I, line 12a(i), 12b, or 12c(i i), is more than the entry on line 1i, divide line 1i by Part I, line 12a(i), 12b,

1l. Multiply line 1h by line 1k.

1m. Multiply line 1a by line 1l.

1n. If Part I, line 12a(i), 12b, or 12c(i i), is more than the entry on line 1i, enter the amount from line 1m. Otherwise, enter the amount

2. Add lines 1c, 1e, 1g, and 1n.

Page 4 18 fields

3a. Enter the basis of the qualified investment for any energy storage technology described in section 48E(c) placed in service during the

3b. If you checked Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

3c. Multiply line 3a by line 3b.

3d. If you checked Part I, line 9a, enter 10%. If you checked Part I, line 9b, enter 2%. Otherwise, go to line 3f

3e. Multiply line 3a by line 3d.

3f. If you checked Part I, line 10a, enter 10%. If you checked Part I, line 10b, enter 2%. Otherwise, go to line 4

3g. Multiply line 3a by line 3f.

4. Add lines 3c, 3e, and 3g.

5. Add Part V, lines 2 and 4.

6a. Divide. Sum, for the tax year and all prior tax years, of all proceeds of subsidized energy financing or private activity bonds used to

6b. Multiply line 5 by line 6a.

6c. Multiply line 5 by 15% (0.15).

6d. Enter the smaller of line 6b or 6c.

6e. Subtract line 6d from line 5.

7. If proceeds of subsidized energy financing or private activity bonds were used to finance your facility, enter the amount from line 6e.

8. If you are making an elective payment election under section 6417 and the facility doesn’t meet the rules of section 45Y(g)(12)(B)(i),

10. Enter the applicable unused investment credit from cooperatives. See instructions.

11. Add lines 8 and 10. Report this amount on Form 3800, Part I I I, line 1v.

Page 5 23 fields

1a. Enter the basis of property using geothermal energy placed in service during the tax year.

1b. Applicable energy percentage. See instructions.

1c. Multiply line 1a by line 1b.

1d. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 1f

1e. Multiply line 1a by line 1d.

1f. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 2

1g. Multiply line 1a by line 1f.

2. Add lines 1c, 1e, and 1g.

3a. Enter the basis of property using solar illumination (including electrochromic glass) or either solar energy property or solar facility

3b. Applicable energy percentage. See instructions.

3c. Multiply line 3a by line 3b.

3d. If you checked the box in Part I, line 11a or 11b, enter 10%. If you checked the box in Part I, line 11c or 11d, enter 20%. However, if

kW dc

3f. If the entry on Part I, line 12a(i), equals the entry on line 3e, multiply line 3a by line 3d and go to line 3j. Otherwise, continue to

3g. If the entry on Part I, line 12a(i), is more than the entry on line 3e, divide line 3e by Part I, line 12a(i).

3h. Multiply line 3d by line 3g.

3i. Multiply line 3a by line 3h.

3j. If Part I, line 12a(i), is more than the entry on line 3e, enter the amount from line 3i. Otherwise, enter the amount from line 3f.

3k. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 3m

3l. Multiply line 3a by line 3k.

3m. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 4

3n. Multiply line 3a by line 3m.

4. Add lines 3c, 3j, 3l, and 3n.

Page 6 28 fields

5a. Enter the basis of property using qualified fuel cell property placed in service during the tax year that was acquired after 2005 and

5b. Multiply line 5a by 30% (0.30).

5c. Enter the applicable k W capacity of property on line 5a. See instructions.

5d. Multiply line 5c by $1,000.

5e. Enter the smaller of line 5b or 5d.

5f. Enter the basis of property using qualified fuel cell property placed in service during the tax year that is attributable to periods

5g. If you checked the box in Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

5h. Multiply line 5f by line 5g.

5i. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 5l

5j. Multiply line 5f by line 5i.

5l. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 5n

5m. Multiply line 5f by line 5l.

5n. Add lines 5h, 5j, and 5m.

5o. Enter the applicable k W capacity of property on line 5f. See instructions.

5p. Multiply line 5o by $3,000.

5q. Enter the smaller of line 5n or 5p.

6. Add lines 5e and 5q.

7a. Enter the basis of property using microturbine property placed in service during the tax year that was acquired after 2005, and the

7b. If you checked the box in Part I, line 7a or 8b, enter 10%. Otherwise, enter 2

7c. Multiply line 7a by line 7b.

7d. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 7g

7e. Multiply line 7a by line 7d.

7g. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 7i

7h. Multiply line 7a by line 7g.

7i. Add lines 7c, 7e, and 7h.

7j. Enter the applicable k W capacity of property on line 7a. See instructions.

7l. Multiply line 7j by $200.

8. Enter the smaller of line 7i or 7l.

Page 7 26 fields

9a. Enter the basis of property using combined heat and power system placed in service during the tax year.

9b. If the electrical capacity of the property is measured in: M W, divide 15 by the M W capacity. Enter 1.0 if the capacity is 15 M W or

9b. Numbers after decimal.

9c. Multiply line 9a by line 9b.

9d. If you checked the box in Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

9e. Multiply line 9c by line 9d.

9f. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 9h

9g. Multiply line 9c by line 9f.

9h. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 10

9i. Multiply line 9c by line 9h.

10. Add lines 9e, 9g, and 9i.

11d. Enter the basis of property using small wind energy property placed in service during the tax year.

11e. If you checked the box in Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

11f. Multiply line 11d by line 11e.

11g. If you checked the box in Part I, line 11a or 11b, enter 10%. If you checked the box in Part I, line 11c or 11d, enter 20%. However,

11h. Enter the amount of capacity limitation you were allocated in the allocation letter. k W. kW

11i. If the entry on Part I, line 12b, equals the entry on line 11h, multiply line 11d by line 11g and go to line 11m. Otherwise, continue

11j. If the entry on Part I, line 12b, is more than the entry on line 11h, divide line 11h by Part I, line 12b.

11k. Multiply line 11g by line 11j.

11l. Multiply line 11d by line 11k.

11m. If Part I, line 12b, is more than the entry on line 11h, enter the amount from line 11l. Otherwise, enter the amount from line 11i.

11n. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 11p

11o. Multiply line 11d by line 11n.

11p. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 12

11q. Multiply line 11d by line 11p.

12. Add lines 11f, 11m, 11o, and 11q.

Page 8 16 fields

13a. Enter the basis of property using waste energy recovery placed in service during the tax year.

13b. If you checked the box in Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

13c. Multiply line 13a by line 13b.

13d. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 13f

13e. Multiply line 13a by line 13d.

13f. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 14

13g. Multiply line 13a by line 13f.

14. Add lines 13c, 13e, and 13g.

15a. Enter the basis of property using geothermal heat pump systems placed in service during the tax year.

15b. If you checked the box in Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

15c. Multiply line 15a by line 15b.

15d. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 15f

15e. Multiply line 15a by line 15d.

15f. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 16

15g. Multiply line 15a by line 15f.

16. Add lines 15c, 15e, and 15g.

Page 9 23 fields

17a. Enter the basis of property using energy storage technology placed in service during the tax year.

17b. If you checked the box in Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

17c. Multiply line 17a by line 17b.

17d. If you checked the box in Part I, line 11a or 11b, enter 10%. If you checked the box in Part I, line 11c or 11d, enter 20%. However,

17e. Enter the amount of capacity limitation you were allocated in the allocation letter for the solar or wind energy property in

17f. If the relevant entry on Part I, line 12a(i) or 12b, equals the entry on line 17e, multiply line 17a by line 17d and go to line 17j.

17g. If the relevant entry on Part I, line 12a(i) or 12b, is more than the entry on line 17e, divide line 17e by Part I, line 12a(i) or 12b.

17h. Multiply line 17d by line 17g.

17i. Multiply line 17a by line 17h.

17j. If the entry for the solar or wind energy property in connection with the energy storage technology on Part I, line 12a(i) or 12b, is

17k. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 17m

17l. Multiply line 17a by line 17k.

17m. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 18

17n. Multiply line 17a by line 17m.

18. Add lines 17c, 17j, 17l, and 17n.

Section J—Qualified Biogas Property (see instructions). 19a. Enter the basis of property using biogas placed in service during the tax year.

19b. If you checked the box in Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

19c. Multiply line 19a by line 19b.

19d. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 19f

19e. Multiply line 19a by line 19d.

19f. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 20

19g. Multiply line 19a by line 19f.

20. Add lines 19c, 19e, and 19g.

Page 10 23 fields

21a. Enter the basis of property using microgrid controllers placed in service during the tax year.

21b. If you checked the box in Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

21c. Multiply line 21a by line 21b.

21d. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 21f

21e. Multiply line 21a by line 21d.

21f. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 22

21g. Multiply line 21a by line 21f.

22. Add lines 21c, 21e, and 21g.

23a. Enter the basis of property using investment credit facility property placed in service during the tax year.

23b. If you checked the box in Part I, line 7a or 8b, enter 30%. Otherwise, enter 6

23c. Multiply line 23a by line 23b.

23d. If you checked the box in Part I, line 11a or 11b, enter 10%. If you checked the box in Part I, line 11c or 11d, enter 20%. However,

23e. Enter the amount of capacity limitation you were allocated in the allocation letter. k W. kW

23f. If the entry on Part I, line 12b, equals the entry on line 23e, multiply line 23a by line 23d and go to line 23j. Otherwise, continue

23g. If the entry on Part I, line 12b, is more than the entry on line 23e, divide line 23e by Part I, line 12b.

23h. Multiply line 23d by line 23g.

23i. Multiply line 23a by line 23h.

23j. If Part I, line 12b, is more than the entry on line 23e, enter the amount from line 23i. Otherwise, enter the amount from line 23f.

23k. If you checked the box in Part I, line 9a, enter 10%. If you checked the box in Part I, line 9b, enter 2%. Otherwise, go to line 23m

23l. Multiply line 23a by line 23k.

23m. If you checked the box in Part I, line 10a, enter 10%. If you checked the box in Part I, line 10b, enter 2%. Otherwise, go to line 24

23n. Multiply line 23a by line 23m.

24. Add lines 23c, 23j, 23l, and 23n.

Page 11 23 fields

25a. Enter the basis of property placed in service during the tax year for the facility that is designed and reasonably expected to produce

25b. If you checked the box in Part I, line 8b, enter 6%. If you checked the box in Part I, line 8c, enter 1.2

25c. Multiply line 25a by line 25b.

25d. Enter the basis of property placed in service during the tax year for the facility that is designed and reasonably expected to produce

25e. If you checked the box in Part I, line 8b, enter 7.5%. If you checked the box in Part I, line 8c, enter 1.5

25f. Multiply line 25d by line 25e.

25g. Enter the basis of property placed in service during the tax year for the facility that is designed and reasonably expected to produce

25h. If you checked the box in Part I, line 8b, enter 10%. If you checked the box in Part I, line 8c, enter 2

25i. Multiply line 25g by line 25h.

25j. Enter the basis of property placed in service during the tax year for the facility that is designed and reasonably expected to produce

25k. If you checked the box in Part I, line 8b, enter 30%. If you checked the box in Part I, line 8c, enter 6

25l. Multiply line 25j by line 25k.

26. Add lines 25c, 25f, 25i, and 25l.

27. Add Part V I, lines 2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22, 24, and 26.

28a. Divide. Sum, for the tax year and all prior tax years, of all proceeds of tax-exempt bonds (within the meaning of section 103), used

28b. Multiply line 27 by line 28a.

28c. Multiply line 27 by 15% (0.15).

28d. Enter the smaller of line 28b or 28c.

28e. Subtract line 28d from line 27.

29. If proceeds of tax-exempt bonds were used to finance your facility, enter the amount from line 28e. Otherwise, enter the amount from

30. If you are making an elective payment election under section 6417 for a facility whose construction began in calendar year 2024, and

31. Enter the applicable unused investment credit from cooperatives. See instructions.

32. Add lines 30 and 31. Report this amount on Form 3800, Part I I I, line 4a.

Page 12 16 fields

1a. Was there a prior section 170(h) deduction on this property? Yes.

1a. No.

If “Yes” to line 1a, then provide the prior NPS number

1c. Check this box if you are electing under section 47(d)(5) to take your qualified rehabilitation expenditures into account for the tax

Beginning date:

End date:

1e. Enter the adjusted basis of the building as of the beginning date above (or the first day of your holding period, if later)

1f. Enter the amount of the qualified rehabilitation expenditures incurred, or treated as incurred, during the period on line 1d above

1g. Enter the amount of qualified rehabilitation expenditures.

1j. For certified historic structures with expenditures paid or incurred, multiply line 1g by 4% (0.04). Note: This credit is allowed for a

1k. If you completed line 1j, enter the following. (i). The assigned N P S project number:

The originating pass-through entity’s EIN (if applicable):

1k. (i i i). The date the N P S approved the Request for Certification of Completed Work:

1m. If you have not received an approved certification of completed work, enter the date that is 30 months after the date that the original

2. Enter the applicable unused investment credit from cooperatives. See instructions.

3. Add lines 1j and 2. Report this amount on Form 3800, Part I I I, line 4k.

Lock the PDF after filling (values become permanent, fields are removed)

Processed on our own servers, never sent to a third-party service. Files are deleted automatically after two hours, and you can delete them sooner from the result screen.

Frequently asked questions

Do I also need Form 3800?

Usually yes. The investment credit is one of the general business credits, so the amount from Form 3468 is carried to Form 3800, where the overall credit limitation is applied before it reduces your tax.

Which credits does Form 3468 cover?

The rehabilitation credit, the energy credit, and the qualifying advanced coal, gasification, and advanced energy project credits. Each has separate eligibility rules, so check the current instructions at irs.gov for your property type.

What if I sell the property early?

Disposing of investment credit property before the end of its recapture period can require you to pay part of the credit back. That recapture is figured on Form 4255.

Form 3468, Investment Credit

What is 3468?

Who files 3468?

How to fill out 3468

Quick fill 3468 on this page

Frequently asked questions

Related forms

Form 3800, General Business Credit

Form 4255, Certain Credit Recapture, Excessive Payments, and Penalties

Form 5695, Residential Energy Credits