AmyC
Expert Alumni

Deductions & credits

Yes, you can use the higher of 2019 or 2020 income, just like the EIC. Form 7202 instructions state:

 

Election to use prior-year net earnings from self-employment. You may be able to use your prior-year net earnings from self-employment on line 7 to figure your credit for sick leave for certain self-employed individuals. You can make this election if your prior-year net earnings from self-employment were greater than your current year net earnings from self-employment.

 

Related:

7202 Form

Self-Employed Individuals Tax Center

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post