N-342B: Composite Schedule for Form N-342A (Revision 2020)
Hawaii · Hawaii DoTax · Used for tax years 2024, 2025, 2026
Hawaii Form N-342B is a detailed schedule of the information reported on a composite Form N-342A. It reports renewable energy system details, tax credit computations, the recipient’s distributive share of the credits, and property addresses for the systems.
Who files this form
Form N-342B is prepared by an entity and used by a member to report the member’s distributive share of the Renewable Energy Technologies Income Tax Credits (RETITC) when the entity installed and placed in service 10 or more eligible systems during a single taxable year.
The form lists these issuing entities: S corporations, partnerships, estates, trusts, and condominium apartment associations. It provides the detailed schedule for a composite Form N-342A.
What you'll need
Have Form N-342A and the information requested on Form N-342B ready:
- The issuing entity’s name, SSN or FEIN, and Hawaii Tax ID number, if any.
- The recipient’s name and SSN or FEIN.
- The tax year or fiscal-year beginning and ending dates.
- Each system’s property number, system type, and date installed and placed in service.
- Total output capacity if the credit is for an “other solar energy system.”
- Information to complete the tax credit and distributive-share calculations, including the number of units where requested.
- Each system’s physical property address, including street address, city or town, and ZIP code.
How to file
Attach Form N-342B to Form N-342A.
The supplied form does not give a mailing address or e-filing instructions.
Common mistakes
- Do not leave Form N-342B separate from Form N-342A. The form specifically says to attach it.
- When completing Part I, keep the entries aligned with Form N-342A. The form notes that the Part I line numbers correspond to the lines on Form N-342A.
Questions people ask
Who prepares Form N-342B?
The issuing entity prepares it. The member uses it to report the member’s distributive share of the Renewable Energy Technologies Income Tax Credits.
When is this composite schedule used?
It is used when the entity installed and placed in service 10 or more eligible systems during a single taxable year.
How does Form N-342B relate to Form N-342A?
Form N-342B gives the details reported on a composite Form N-342A and must be attached to it. The lines in Part I correspond to the lines on Form N-342A.
Do I need to list an address for every system?
Yes. Part II requests the physical property address for each system installed and placed in service, identified by property number.
When is total output capacity requested?
The form requests total output capacity if the credit is for an “other solar energy system.”