New 2020 Tax Credit for Self-Employed Individuals with form 7202

The problem is that you can not give the correct numbers. waste of time man

I didn’t fill 2020 7202 form yet. Can I fill it now?! Thanks

Where is the 7202 Now?

Hello, thank you very much in form 7202 of 2022 I could claim the four parts of 7202 the first two are from January to March and the other from April to September I have to choose one of those months or I can claim the four parts I can qualify all two times then I can take the Credit thanks for your help take the like and I already signed up

how do I even upload this form to turbo tax?

if i was mainly a 1099 employee, but I made some money through W2 (but didn't have any sick leave during my w2 emoloyment) am I still eligible for this credit? I'm confused by lines 15c/16c

Beast 🤟

Can you show me how to use the new irs form 7202 2021

What about if you received pua? I’ve seen it said yes you can and others saying no. It doesn’t say anything one way or the other on the irs site

Thank you for this information! What are your thoughts on the following: non-passive partnership income fully absorbed by cf losses on 2020 tax return (so zero taxable income on Schedule E) however SE income is coming through on the K-1 and SE tax is being calculated on the 1040. Would the taxpayers still be eligible for 7202? I can argue it either way but can't find anything definitive! Thanks to anyone who offers their thoughts!

im have w2 and 1099 nec, the 1099 nec is from amazon flex l, i just try it for 1 month and i made 651, now what to answer in SE tax form part 3 deferral line 18. Thanks in advance.

Hi can I claim this credit if I’m filling marry filling and both of us have 1099 . We have kids together but since he has an ITIN number he couldn’t collect unemployment. I have a social and I did received unemployment . Schools shut down during COVID . If they ask for proof do I have to get a Letter from the school stating that they shut down due to COVID . Thanks !

I'm a 1099g unemployment.
I filed form 7202 with my taxes and I didn't get any tax credits even I had to stay home with my son because his school closed back in March 2020 what should I do to get that credit thank you?

Line 8 says to round off to nearest number, which you didn't.

Thank you! I was aware of this form, had printed it and was ready to get started. I read the instructions and understood them, but was very glad to watch your presentation, which confirmed my understanding. Many thanks for bringing this to the attention of many others who may not have seen it!

Hi I have a question maybe you can help. What are the requirments as far as proving the need to not work etc. I am self employed and I don't have employees. I also read something about how if you are a healthcare worker you are not eligible for this tax credit - is this true? Thanks for your great videos!

Great job 👍🏽

I heard it was there last year...I wonder if you amend that and get the credit for 2019? Thank you in advance!

Hello, where or how can i find the Form 7202 to make the calculation on excel sheet? ive been trying to get it but i just dont know how to? thank you

I want to know where do I have to send out give me the address to send out thanks

Very helpful, Thank you.

How do I submit the form?

Thanks, regarding the SE income, is it SE income from all sources or your main occupation? For example I have a dental practice(Schedule C)and also have a Schedule F for my produce farm - would the 2 net schedule C's be combined so if the Schedule F is a loss then it would reduce my dental practice income for the credit?

Will claiming these credits increase my audit risk? I am 1099 self employed.

I think you did a great job on this! And you cut to the chase!

Thank you for bringing this to our attention. I was aware of it but told by cpa that that credit is for NEXT year....glad I researched! Please do more of these...

I have several questions? How can I ask you?

Great video. As a gig worker, I'd noticed that Turbo tax won't let you efile if you do the Covid sick leave option.

I didn't work the whole 20/20 I was sick before March 27th 90% of the time so, would I still get the tax credit and should / can I apply for income tax return

👍😊

What about part 2? Can you use both 10 days in part one and 50 days in part 2? If it pertains to your situation?

I’m a little confused on does taxpayer have to see a profit in 2020 in order to use net earnings from 2019? Client made about $0 dollars from their self employment in 2020, would they qualify? Due to school and daycare closings they were unable to work their self employment.

THANKS FOR THE BREAK DOWN!!!

Question I was pregnant and self did rmployed for 2020. I had to quarantine because my job is typicall in home due to dfcs/cps requirements. I had my baby in September and stayed quarantine due to being hire risk so I have been teleworking reduce hours to care for my child. Do I qualify ?

Thank you for sharing! Question: line 7..what if you didn’t have your business 2019, 2020 your started your business however it’s at lost.what earnings should you put there instead?

Hello I’m a housekeeper and only have a 1040 and self employed can I get this credit my kids were home all year due to closing ??? I don’t get w2 thanks so much

the max we can claim is 10 days for each credit? im using tax credit to e file.

I’m not self employed but I still have this form? But I did catch covid

I would like to know if I can claim that credit for my business as a sole proprietorship? And as an independent contractor if Did not make over 600 dollars ? I was isolated because I was infected by COVID, and I got paid by my employer, but I did not get no pay as independent contractor.

You have to be self employed?

The forms is available on Turbotax now, but says you can't file by e-file due to this form. It's forcing us to file by mail. I called TurboTax today. They said they don't know if this will change later on. But for now, you could only file by mail if you are trying to get this credit.

I'm so confused. I'm an independent contractor and after I take into account my expenses I always have a negative loss. So would I not be able to take this credit unless I have a gain?

How did u get the 7202 online? It’s saying I gotta do it via mail. Smh

So in the state of Texas we were advised to not work if at all possible during the month of April. The wording in the instructions for form 7202 seem rather vague as it states that those who are eligible are:

You were subject to a federal, state, or local quarantine or isolation order related to COVID-19.•
You were advised by a health care provider to self-quarantine due to concerns related to COVID-19.
You were experiencing symptoms of COVID-19 and seeking a medical diagnosis.

So, my interpretation would be if the local State or city said to stay indoors, then that meant, if you followed their guidelines, you would be eligible for any time you stayed quarantine. However, could you prove that other than not having any payment records during that time? They don't specify what the evidence of such a thing would be. 

Thoughts?

Ohio here it’s telling me that I have to file by mail cause of this 7202 but then won’t let me. Please help. Any info on what to do?

Believe they said this form has to be mailed in?

Great channel! I have a question I hope you could clarify for me. I'm a rideshare driver who was affected by the lock downs quarantine back in March-April in my state.

Do I qualify for this tax credit? Appreciated!

Great Video. I filed form 7200 claiming cumulative ERTC for 2020 and then filed form 941 4th Qtr, however, I was unaware that I had to claim that credit amount on 941 4th qtr. I now have to file a 941 x to report that. DO i need to fill out anything on the 941 x besides line 26 and line 30? Everything else is still the same on form 941

Does it matter if your self-employment income comes from Schedule C or Schedule E?

Question were can I e file this 7202 form ? And how can I get in contact with you sir thank you