Instructions for IRS Form 7202 Credits for Sick Leave and Family Leave for Certain Self-employed Individuals

IRS Form 7202 Credits for Sick Leave and Family Leave for Certain Self-employed Individuals

This document contains official instructions for IRS Form 7202 , Credits for Family Leave for Certain Self-employed Individuals - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 7202 is available for download through this link.

FAQ

Q: What is IRS Form 7202?
A: IRS Form 7202 is a form used to claim credits for sick leave and family leave for certain self-employed individuals.

Q: Who is eligible to use IRS Form 7202?
A: Self-employed individuals who are unable to work or operate their business due to COVID-19 related reasons and qualify for sick leave or family leave credits can use IRS Form 7202.

Q: What credits can be claimed using IRS Form 7202?
A: IRS Form 7202 allows self-employed individuals to claim credits for sick leave and family leave taken due to COVID-19 related reasons.

Q: What is the purpose of the sick leave credit?
A: The sick leave credit provides compensation to self-employed individuals who are unable to work or operate their business due to being diagnosed with, experiencing symptoms of, or undergoing quarantine related to COVID-19.

Q: What is the purpose of the family leave credit?
A: The family leave credit provides compensation to self-employed individuals who are unable to work or operate their business due to caring for someone who is subject to a quarantine order or who has been advised to self-quarantine by a healthcare provider.

Q: How do I calculate the amount of the sick leave credit?
A: The amount of the sick leave credit is based on the individual's average daily self-employment income or a specified amount, whichever is less, and the number of days the individual is unable to work.

Q: How do I calculate the amount of the family leave credit?
A: The amount of the family leave credit is based on the individual's average daily self-employment income or a specified amount, whichever is less, and the number of days the individual is unable to work due to caring for someone.

Q: What supporting documentation is required when filing IRS Form 7202?
A: Self-employed individuals must maintain records that establish their eligibility for the sick leave and family leave credits, including the name of the person being cared for, the qualifying reason for leave, and documents supporting the self-employment income.