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 find out how in the following details. https://officialsetcrefund.com/learn/setc-faq/ is influenced by your average daily self-employment income and the total workdays you missed because of COVID-19 effects.For instance, the sick leave credit amount is equal to the lower of $511 or all of your average daily self-employment income for a certain number of days where you were unable to work due to reasons like being quarantined or experiencing COVID-19 signs.On the other hand, the family leave credit amount is the lesser of $200 or 67% of your daily income from self-employment on average. This applies for days when you couldn’t perform services because of COVID-19 related circumstances.Moreover, if 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 utilize IRS Form 7202, which takes into account eligibility according to self-employment status and COVID-related interruptions, as well as the family leave tax credit.