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Level 2
April 8, 2021
Question

I have a self-employed client that received PUA does that make them ineligible for the tax credit on form 7202

  • April 8, 2021
  • 2 replies
  • 12 views
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2 replies

qbteachmt
Level 15
April 8, 2021

If they meet the qualifications for "impacted" then they qualify, but the value to use will not include PUA funds, because those are unearned.

So, being impacted for purposes of PUA is not the same qualification for purposes of 7202. You need to meet the specific qualifications, just like different parts of the tax code use different computations to get to an MAGI.

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Level 2
April 9, 2021

Thank you.  That is the way I understood it to be also.