Instructions For Form 3468 - 2016 (Page 8 of 8) in pdf

2. Safe Harbor Method meets the requirements provided

Line 12t

in section 5 of

Notice

2013-29, as modified by section 5 of

Enter the basis of qualified wind facility property under section

Notice 2014-46

and section 6 of

Notice

2016-31.

45(d)(1) the construction of which began in 2017 and was

Although both methods can be used, only one method is

placed in service during the tax year.

needed to establish that construction of a qualified facility has

begun. For more information, see

Notice

2013-29, including its

Line 13

successors up to

Notice

2016-31.

Patrons, including cooperatives that are patrons in other

cooperatives, enter the unused investment credit from the

The election to treat a qualified facility as energy property is

rehabilitation credit or energy credit allocated from cooperatives.

made by claiming the energy credit with respect to qualified

If you are a cooperative, see the Instructions for Form 3800,

investment credit facility property by completing Form 3468 and

line 1a, for allocating the investment credit to your patrons.

attaching it to your timely filed income tax return (including

extensions) for the tax year that the property is placed in service.

Paperwork Reduction Act Notice. We ask for the information

You must make a separate election for each qualified facility that

on this form to carry out the Internal Revenue laws of the United

is to be treated as a qualified investment credit facility. You must

States. You are required to give us the information. We need it to

also attach a statement to the Form 3468 that includes the

ensure that you are complying with these laws and to allow us to

following information.

figure and collect the right amount of tax.

1. Your name, address, taxpayer identification number, and

telephone number.

You are not required to provide the information requested on

a form that is subject to the Paperwork Reduction Act unless the

2. For each qualified investment credit facility include the

form displays a valid OMB control number. Books or records

following.

relating to a form or its instructions must be retained as long as

a. A detailed technical description of the facility, including

their contents may become material in the administration of any

generating capacity.

Internal Revenue law. Generally, tax returns and return

b. A detailed technical description of the energy property

information are confidential, as required by section 6103.

placed in service during the tax year as an integral part of the

The time needed to complete and file this form will vary

facility, including a statement that the property is an integral part

depending on individual circumstances. The estimated burden

of such facility.

for individual and business taxpayers filing this form is approved

c. The date that the energy property was placed in service.

under OMB control number 1545-0074 and 1545-0123 and is

d. An accounting of your basis in the energy property.

included in the estimates shown in the instructions for their

individual and business income tax return. The estimated burden

e. A depreciation schedule reflecting your remaining basis in

the energy property after the energy credit is claimed.

for all other taxpayers who file this form is shown below:

3. A statement that you haven't and won’t claim a grant

under section 1603 of the American Recovery and Reinvestment

Recordkeeping

17 hr., 13 min.

. . . . . . . . . . . . . . . . . . . . . . . .

Tax Act of 2009 for property for which you are claiming the

Learning about the law or the form

6 hr., 21 min.

. . . . . . . . . .

energy credit.

Preparing and sending the form to the IRS

10 hr., 31 min.

. . . . .

4. A declaration, applicable to the statement and any

accompanying documents, signed by you, or signed by a person

currently authorized to bind you in such matters, in the following

If you have comments concerning the accuracy of these time

form: “Under penalties of perjury, I declare that I have examined

estimates or suggestions for making this form simpler, we would

this statement, including accompanying documents, and to the

be happy to hear from you. See the instructions for the tax return

best of my knowledge and belief, the facts presented in support

with which this form is filed.

of this statement are true, correct, and complete.”

-8-

Instructions for Form 3468 (2016)

Instructions For Form 3468 - 2016 Page 8

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