1120-US: Form 3468 not calculated for an S Corporation return (FAQ)

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IRS filing deadline update

The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.

Question

Why isn't the Form 3468 credit calculated for an S Corporation return?

Answer

Per the Form 1120S and Form 3468 instructions, the S Corporation provides the shareholder the information necessary to complete the Form 3468 at the shareholder level. The S Corporation does not calculate the credit on Form 3468, since this is done at the shareholder level.

Related topic: 1120-US: Form 3468 – Investment Credit FAQs

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