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Generating Form 7202 in ProSeries

by Intuit Updated 3 days ago

The Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals has not been extended for tax year 2022 and the Form 7202 is not available for 2022 tax returns.

For tax year 2021 filers:

  • Extension of credits through March 31, 2021. The qualified sick and family leave equivalent credits that apply beginning April 1, 2020, were extended to include the period January 1, 2021, through March 31, 2021. The limitations that apply when figuring these credits apply to the period April 1, 2020, through March 31, 2021. Use Parts I and II to figure these credits.
  • New credits for leave between April 1, 2021, and September 30, 2021. New qualified sick and family leave equivalent credits apply to the period April 1, 2021, through September 30, 2021. These credits are independent of those that apply to the period April 1, 2020, through March 31, Use Parts III and IV to figure these credits.
  • The 7202 no longer needs to be attached to the e-filed return as a PDF attachment.

For tax year 2020 filers:

  • Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals is a new form for tax year 2020.
  • IRS instructions can be found here.
  • The IRS has released a Frequently Asked Questions page.
  • The IRS approved 7202 to be sent as an IRS approved statement in March of 2021. ProSeries was updated around March 11, 2021 that enable this.

Accessing Form 7202:

  1. Open the return.
  2. Press F6 to open the list of all forms.
  3. Type 7202 to highlight Form 7202.
    • Select Form 7202-T for taxpayer's copy (or)
    • Select Form 7202-S for spouse copy.
  4. Click OK to open the form.

Generating the 7202 for Credit for Sick Leave for Certain Self-Employed Individuals

  1. If you are electing to use the Prior Year Net Earnings from Self Employment complete the Smart Worksheet at the top of Form 7202.
  2. Enter any applicable days in lines 1 and 2 for the Credit for Sick Leave for Certain Self-Employed Individuals.
  3. ProSeries will automatically enter the self employment earnings on line 7. Review the amount that is auto filled and make any changes as needed.
  4. Manually enter line 15 and 16 if applicable.
  5. Review the credit amount on line 24.

Generating Form 7202 for Credit for Family Leave for Certain Self-Employed Individuals

  1. If you are electing to use the Prior Year Net Earnings from Self Employment complete the Smart Worksheet at the top of Form 7202.
  2. Enter any applicable days in line 25 for the Credit for Family Leave for Certain Self-Employed Individuals.
  3. ProSeries will automatically enter the self employment earnings on line 26. Review the amount that is auto-filled and make any changes as needed.
  4. Manually enter line 31, if applicable.
  5. Review the credit amount on line 35 for accuracy.

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