Calculating the SETC Tax Credit RefundAfter determining your eligibility for the SETC Tax Credit, the subsequent step is to calculate your possible refund amount. You can learn how below. https://officialsetcrefund.com/learn/setc-faq/ is determined by your average daily self-employment income and the number of workdays missed because of COVID-19 effects.For instance, the qualified sick leave equivalent amount is equal to the lower of $511 USD or 100% of your average daily self-employment income for a certain number of days when you were unable to work because of reasons like being quarantined or having 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 applies for the days in which you couldn’t perform services due to COVID-19 related circumstances.Moreover, if you and your spouse are both self-employed, you can each claim up to a specified SETC Tax Credit limit, provided you don't share the qualifying COVID days.To calculate your SETC Tax Credit, you would use IRS Form 7202, which takes into account eligibility based on self-employment status and COVID-related disruptions, as well as the family leave tax credit.