The investment tax credit is part of the General Business Credit, which is composed of the following credits:
Rehabilitation credit. This is for qualified rehabilitation expenditures made for a qualified rehabilitated building.
Energy credit. This is a percentage of the basis of energy property.
Qualifying advanced coal project credit. This is a percentage of the taxpayer’s qualifying investment in a clean coal project that is certified by the IRS.
Qualifying gasification project credit. This is a percentage of the taxpayer’s qualifying investment in a gasification project that is certified by the IRS. Gasification is any process that converts a solid or liquid product from coal, petroleum residue, biomass, or other materials that are recovered for their energy or feedstock value into a synthesis gas.
Use the Investment Credit topic in the Credits section of the interview to see if you qualify for any of these credits.
For more information, see IRS Publication 334, Tax Guide for Small Business.