Calculating Your SETC Tax Credit Refund AmountOnce you've established that you qualify for the SETC Tax Credit, the subsequent step is to calculate your possible refund amount. You can find out how in the following details. https://officialsetcrefund.com/learn/qualify-for-self-employed-tax-credit/ is determined by your average daily self-employment income and the number of workdays missed due to COVID-19 effects.For instance, the qualified sick leave equivalent amount is equal to the lesser of $511 or all of your average daily income from self-employment for a set number of days where you couldn’t work due to reasons like being quarantined or experiencing COVID-19 symptoms.On the other hand, the qualified paid family leave equivalent amount is the lesser of $200 USD or two-thirds of your average daily self-employment income. This is applicable for days when you couldn’t perform services because of COVID-19 related reasons.Moreover, if both you and your spouse are both self-employed, you can both claim up to a specified SETC Tax Credit limit, as long as you don't share the qualifying days related to COVID.To determine your SETC Tax Credit, you would use IRS Form 7202, which factors in eligibility based on self-employment status and COVID-related interruptions, as well as the family leave credit.