Form 7202 is a form used to claim credits for sick Leave and family Leave for certain self-employed Individuals. This is one of the multiple tax provisions under the Families First Coronavirus Response Act.
If you are a self employed person including those receive a Form 1099-MISC and if you were not able to work or telework due to reasons related to the coronavirus, you are eligible for this Sick Leave and Family Leave credits.
To see if you are eligible, click here: Who must file Form 7202
To learn more details about the credits, click here: Self Employed Credits
As of today, you cannot file the form yet because IRS has not allowed for the e file until February 11, 2021. It is not mandatory but a nice tax break to reduce your taxes if you meet the requirements. TurboTax does not automatically include it for you. You have to follow the on-screen interview questions to complete the form in the program. If you do not believe it applies to you, you can simply remove it from the program. Or you can file without it and come back to amend later.
Here are the steps:
In TurboTax online,
1. Sign into your account, select Pick up where you left off
2. Select Tax Tools, click on the drop down arrow
3. Select Tools
4. Under Other helpful links, choose Delete a form
5. Select Delete next to the form 7202 and Continue with My Return
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