Transferring renewable energy tax credits
I Have a client that purchased tax credits in 2023 - proposed rules REG-101610-23 relative to IRC Section 6418 . Sellers have provided instructions that the credit should be identified and included on Schedule 3, line 6, letter z, then foot to line 7. Sellers (intermediary firm) have assured the purchaser that they have successfully reported the credit this way, with no push back from the IRS to date. Currently, there does not seem to be a way to get Lacerte to populate line 6, letter z. As a workaround, I was able to get a similar net effect by utilizing the letter k input fields, but clients are hesitant to proceed, since it doesn't exactly mirror the treatment that was prescribed by the seller. I'd prefer not to paper file the returns to follow this treatment, can Lacerte possibly develop an input screen that will populate the letter z line?
