DaveF1006
Expert Alumni

Deductions & credits

Please read this Turbo Tax source for a complete analysis on reporting a 3468. In the article, it states that "the credits on Form 3468 are generally claimed by businesses. Corporations use them to reduce their corporate income taxes. Sole proprietors use them to reduce their personal income taxes. Taxpayers who have an ownership stake in so-called pass-through entities, such as partnerships and Subchapter S corporations, share these credits earned by the business with the other owners of the business". 

 

Form 3468 is filled out to claim an investment tax credit for a business and not for individuals, unless they have an ownership stake in the pass-through entities.

 

@Oliflyer

 

 

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