Investment Tax Credit Window

Follow the guidelines below to complete the fields on the Investment Tax Credit window.

Items in this window

Item	Notes
ITC Credit	Select the ITC Credit option you want to take on the current asset. For a description of each option, see ITC Credit Options.
ITC Credit %	Enter the ITC Credit percentage you want to apply. The application displays a default percentage based on the selected ITC Credit option. You can enter a percentage of up to 30% of the asset’s depreciable basis. Note: A higher ITC Credit percentage is available for certain types of property located in the Gulf Opportunity Zone.
ITC Credit Amount	The application computes the ITC Credit Amount by multiplying the asset’s depreciable basis by the ITC Credit percentage. You can change this amount; however, the amount cannot exceed the asset’s depreciable basis.
Amount	This field displays the amount by which the depreciable basis will be reduced for the current asset.