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New Member
posted Jan 23, 2020 3:35:25 PM

What is an investment credit? I've never been asked this question when filing before, and it won't let me file unless I check the box for

submitting it. I don't have a business or anything and don't see why answering this question is important. Please help so I can file!

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2 Replies
Expert Alumni
Jan 23, 2020 4:23:00 PM

Try reviewing your entries for this credit.  Type investment credit (use that exact term) into the search bar, press enter, and then use the Jump to investment credit link to get back to those questions.  Make sure you are signed in to your federal tax return before you search.   If you are doing a state return, the process is different so you will need to let us know what state it is.  

 

You can get an investment credit if you invest in certain projects, such as: 

  • Rehabilitation of a qualified building
  • Energy Credit
  • Qualifying advanced energy project
  • Qualifying advanced coal project
  • Qualifying gasification project 

If you erroneously started this credit, you can delete Form 3498 so you can e-file.  To delete a form, click on Tax Tools on the left menu.  Then choose Tools and select Delete A Form.  Choose the form from the list and delete it.  

Returning Member
Apr 4, 2024 10:37:15 AM

We can stop TurboTax from generating form 3468 by changing "Basis in gasification Property in advanced coal Project" to $0. Go to line 20 of your K-1 dropdown menu of the entries look for "Gasification update..." select it and enter $0. This will generate the form it will ask you again to enter $0 then it will ask if you would like to attach this form answer NO. This will take care of the error when there is no credit on gasification.