Form 7211 is used to claim the clean electricity production credit. The credit is allowed for electricity produced in the United States or U.S. territories at a qualified facility and sold by the taxpayer to an unrelated person during the tax year or, in the case of a qualified facility that is equipped with a metering device that is owned and operated by an unrelated person, sold, consumed, or stored by the taxpayer during the tax year.
The entity that owns and operates a qualified facility files Form 7211 to claim the credit, and a separate form is filed for each qualified facility. Except for an estate or trust, a taxpayer receiving this credit from a pass-through entity doesn't need to file Form 7211 but reports it directly on Form 3800, General Business Credit. An estate or trust receiving this credit passes it through to the beneficiary(ies) on Schedule K-1.
See the form instructions for details on how to complete Form 7211.
To access Form 7211 in the individual tax return in TaxSlayer ProWeb, from the Federal Section of the tax return (Form 1040) select:
- Deductions
- Credits
- Less Common Credits
- Clean Electricity Production Credit - Complete the form. If the credit is from a passthrough entity reported on Schedule K-1, you don't need to complete the form in its entirety but you'll need a copy of Form 7211 that the entity filed so that you can enter the facility information in Part I, After finishing with Part I and selecting Continue, you'll be able to select Credits from Pass-Through Entities to enter the information about the entity and the amount of the credit.
Additional Information: