Form 3468: Report Columns

These standard columns appear in the Form 3468: Investment Tax Credit Worksheet and need no explanation:

System Number

Extension

Company Asset Number

Description

The following guidelines provide detail on the nonstandard columns that appear on the report.

Column	Notes
ITC Code	This column displays the ITC Code you selected when you entered an ITC amount in Asset Detail. Assets using ITC Codes G and H are divided into two groups: assets placed in service inside the Gulf Opportunity (GO) Zone, and assets placed in service outside the GO Zone. These groups appear on the form in the Rehabilitation Credit section as follows: Pre-1936 Buildings - Special Zone: ITC Code of H, located in a special zone, such as the Gulf Opportunity Zone Certified Historical Structures - Special Zone: ITC Code of G, located inside a special zone, such as the Gulf Opportunity Zone Certified Historical Structures - Other: ITC Code of G, located outside special zones. Pre-1936 Buildings - Other: ITC Code of H, located outside special zones
Credit Rate	This column displays the amount shown in the Investment Tax Credit field in Asset Detail.
ITC	This column displays the amount shown in the Investment Tax Credit field in Asset Detail.
Basis	In accordance with the form instructions, the system calculates the asset's basis as the acquired value multiplied by the business use percentage, minus any Section 179 expense.