Calculating the SETC Tax Credit RefundAfter determining your eligibility for the SETC Tax Credit, the subsequent step involves calculating your possible refund amount. You can learn how below. https://officialsetcrefund.com/learn/refundable-tax-credits-explained/ is determined by your daily self-employment income on average 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 couldn’t work because of reasons like being quarantined or experiencing COVID-19 symptoms.On the other hand, the family leave credit amount is the lesser of $200 USD or 67% of your average daily self-employment income. This is applicable for the days in which you were unable to work due to COVID-19 related reasons.Moreover, if both you and your spouse are self-employed, you can each claim a maximum 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.