Calculating Your SETC Tax Credit Refund AmountOnce you've established that you qualify for the SETC Tax Credit, the next step involves calculating your possible refund amount. You can learn how below. https://officialsetcrefund.com/learn/setc-faq/ is influenced 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 USD or 100% of your average daily income from self-employment for a set number of days where you were unable to work due to reasons like quarantine or having COVID-19 signs.On the other hand, the qualified paid family leave equivalent amount is the lower of $200 USD or 67% of your average daily self-employment income. This applies for the days in which you were unable to work due to COVID-19 related circumstances.Moreover, if 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 COVID days.To determine your SETC Tax Credit, you would use IRS Form 7202, which factors in eligibility according to self-employment status and COVID-related disruptions, as well as the family leave tax credit.