Calculating Your SETC Tax Credit Refund AmountAfter determining your eligibility for the SETC Tax Credit, the subsequent step is to calculate your potential credit amount. You can learn how below. https://skaaning-oliver-3.technetbloggers.de/setc-tax-credit-explained-1726177759 is determined by your average daily self-employment income and the total workdays you missed due to COVID-19 effects.For instance, the qualified sick leave equivalent amount is equal to the lesser of $511 USD or all of your average daily self-employment income for a certain number of days when you were unable to work due to reasons like being quarantined or having COVID-19 symptoms.On the other hand, the family leave credit amount is the lower of $200 USD or 67% of your average daily self-employment income. This applies for the days in which you couldn’t perform services because of COVID-19 related circumstances.Moreover, if both you and your spouse are both self-employed, you can both claim a maximum SETC Tax Credit limit, as long as you don't share the qualifying COVID days.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 disruptions, as well as the family leave credit.