Instructions for IRS Form 3468 Investment Credit

This document contains official instructions for IRS Form 3468 , Investment Credit - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury.

FAQ

Q: What is IRS Form 3468?
A: IRS Form 3468 is a form used to claim the Investment Credit.

Q: What is the Investment Credit?
A: The Investment Credit is a tax credit available for certain investments in qualifying property.

Q: Who can claim the Investment Credit?
A: Taxpayers who have made qualifying investments in property eligible for the Investment Credit can claim it.

Q: What qualifies as eligible property for the Investment Credit?
A: Eligible property for the Investment Credit includes certain types of tangible property, like equipment or buildings, used for business or income-producing purposes.

Q: How do I fill out IRS Form 3468?
A: You will need to provide information about the type of property, the date it was placed in service, and the amount of qualified investment.

Q: When is the deadline to file IRS Form 3468?
A: The deadline to file IRS Form 3468 is usually the same as the deadline for filing your income tax return, which is typically April 15th.

Q: Are there any limits or restrictions on the Investment Credit?
A: Yes, there are certain limitations and restrictions on the Investment Credit, such as a dollar limit and a phase-out for high-income taxpayers.

Q: Can I carry forward unused Investment Credit?
A: Yes, any unused Investment Credit can be carried forward to future tax years.

Q: Do I need to include any supporting documents with IRS Form 3468?
A: It is recommended to keep supporting documentation, such as receipts and records of your investment, in case the IRS requests them during an audit.