Computation of Investment Credit
b> Attach to your tax return.

om S468

Department of the Treasury
Internal Revenue Service

1978

Name
tax return

Identifying number as shown on page 1 of your

1 Use the format below to list qualified investment in new and used property acquired or constructed and placed in service during the tax year. Also list quali-
fied progress expenditures made during the 1978 tax year and qualified progress expenditures made in 1974, 1975, 1976, and 1977 if you made the proper

election prescribed in section 46(d)(6) for those tax years. If progress expenditure property is placed in service during the tax year,

tess expenditures for this property. See instruction for line 1.
If you are claiming 100% investment credit on certain ships, check this block p> L See instruction K
Note: Include your share of investment in property made by a partnership, estate, trust, small business

do not list qualified prog-

for details.
corporation, or lessor.

Type of us x cost 2p @) a.)
Property ne Life years (See instruction G) percentage | (Golumnn'2 x celume’s)
New (a)_|_3 or more but less than 5 33144
Property |_(b) |_5 or more but less than 7 66%
(c) 7_or more 100
Qualified | 1974, 1975, 1976 and 19;
Qualified 4, and 197 | (d) 7 or more 20
expenditures 1978 (e) 7 or more 80
Used (f)_|_3 or more but less than 5 331,
(Gee instructions for (g) |_5 or more but less than 7 66%,
dollar limits) (h) 7 or more 100

2 Qualified investment—Add lines 1(a) through (h) (see instruction M for special limits) .
10% of line 2. :
7% (4% for public utility property) of certain property (see instructions M and N) .
Corporations electing the additional investment credit for contributions to Employee Stock Ownership
Plans—Attach election statement (see instruction | and instruction for line 5)

(a) Additional 1% credit—Enter 1% of line 2 . a
(b) Additional credit (not more than .5%)—Enter allowable percentage times adjusted line 2 (attach schedule) .

6 Carryback and carryover of unused credit(s)—Attach computation (see instruction F) .
7 Tentative investment credit—Add lines 3 through 6 . : : ee

3
4
5

8 (a) Individuals—Enter amount from Form 1040, line 37, page 2. .
(b) Estates and trusts—Enter amount from Form 1041, line 27 or 28, page 1.

(c) Corporations—Enter amount from Schedule J (Form 1120), line 9, page 3

9 (a) Credit for the elderly (individuals only) .

(b) Foreign tax credit . we

(c) Tax on lump-sum distributions (see instruction for line 9(c)) «

(a) Possession tax credit (corporations only) .

(e) Section 72(m)(5) penalty tax (individuals only) .

10 Total—Add lines 9(a) through (e) .

11 Subtract line 10 from line 8 . .

12 (a) Enter smaller of line 11 or $25,000. See instruction M for special limits. (Married persons filing

separately, controlled corporate groups, estates, and trusts, see instruction for line 12.) .

(b) If line 11 is more than line 12(a) and your tax year ends in 1978, enter 50% of the excess (if your

tax year ends in 1979, enter 60% of the excess). (Public utilities, railroads, and airlines, see instruction J.) .

13 Total—Add lines 12(a) and (b) .

14 Enter smaller of line 7 or line 13 .

15 Subtract line 14 from line 11 .

16 Enter energy property credit from line 3 of Schedule B (Form 3468) .
17_Enter smaller of line 15 or line 16 (if there is no entry on line 16, enter zero) .

Limitation

18 Total Investment Credit—Add lines 14 and 17. Enter here and on Form 1040, line 41; Schedule J (Form
1120), line 10(b), page 3; or the appropriate line on other returns .

BST ICMAW If any part of your investment in line 1 or 4 above was made bya
or lessor, complete the following statement and identify property qualifying for the 7% or 10%

partnership, estate, trust, small business corporation,

% investment credit.

Name Property

Address Progress

(Partnership, estate, trust, etc.) expenditures

New

Life

Used years

$

If property is disposed of prior to the life years used in figuring the investment credit, see instruction E.
(283-402-3 ‘$e U.S. GOVERNMENT PRINTING OFFICE : 197¢—O-283-402

Form 3468 (1978)