S Corporations, Partnerships, Estates, and Trusts

Complete and attach a separate Form 3468 to your return for each facility or property that you use in your trade or business, even if the following apply.

1. You cannot claim the credit.

2. You didn’t elect to treat section 48D credit as a payment under section 48D(d).

3. You didn’t elect to transfer section 48C credit, section 48E credit, or section 48 credit (or portion of such credits) under section 6418.

To figure the cost or basis of each facility or property to pass through to the individual shareholders, partners, or beneficiaries, complete required facility information lines of Part I and only the following.

• Part II, lines 1a, 2a, 3a, 4a, 5a, and 6 (if applicable).

• Part III, lines 1a, 1d, 1e, 1f, and 2 (if applicable).

• Part IV, lines 1a, 1b, and 2 (if applicable).

• Part V, lines 1a, 1i, 3a, 6a, and 10 (if applicable).

• Part VI, lines 1a, 3a, 3e, 5a, 5c, 5f, 5o, 7a, 7j, 9a, 9b, 11d, 11h, 13a, 15a, 17a, 17e, 19a, 21a, 23a, 23e, 25a, 25d, 25g, 25j, 28a, and 31 (if applicable).

Instructions for Form 3468 (2025) 3

• Part VII, lines 1a through 1g, 1k, 1m, and 2 (if applicable).

Attach a statement to Schedule K-1 that provides this necessary information and distributive share of amounts that each partner, shareholder, and beneficiary will need to compute their share of the credit related to investment property on their Form 3468. See the instructions for Form 1065, U.S. Return of Partnership Income; Form 1120-S, U.S. Income Tax Return for an S Corporation; Form 1041, U.S. Income Tax Return for Estates and Trusts; and Schedules K and K-1 for details.

If you reported any unused investment credits allocated from cooperatives on a Form 3468, Part I, line 3a, “Unused Investment Credit from Cooperatives,” see the reporting instructions for Schedules K and K-1 of Form 1120-S, Form 1065, or Form 1041.

Note: If you’re electing a payment under section 48D, Part IV; or electing to transfer a credit under section 48C, Part III; or electing a payment or transferring under section 48E, Part V, or section 48, Part VI, you must also report the current credit amount for such facility or property on the applicable total line of Form 3468 and the applicable line of Form 3800, Part III.

Caution: This information and the partner’s, shareholder’s, or beneficiary’s distributive share of amounts should not include any investment credits for which an elective payment election was made under section 48D(d) or a transfer election was made under section 6418.

If you elected to receive section 48D credit as a payment under section 48D(d)(2)(A); or elected to transfer section 48C credit, section 48E credit (or portion of such credits), or section 48 credit (or a portion of such credits) under section 6418(c), you must complete all applicable parts and lines of Form 3468 (including the registration number on line 1 of Part I) to compute the credit amount with respect to the facility or property.

You must report any credit amount for a facility or property on Part III, line 3; Part IV, line 3; Part V, line 11; or Part VI, line 32 of Form 3468, on the applicable lines of Form 3800, Part III, and attach both to your return.

See the Instructions for Form 3800 for determining credits allowed (in the case of estates and trusts), reporting of elective payment amount of section 48D credit and transferred amount and nontransferred amount (if any) of section 48C, section 48E, and section 48 credits on Schedules K and K-1 of Form 1065, Form 1120-S, and Form 1041.