This TurboTax Help explains the credit as follows:
If you meet all of the requirements, you would be eligible for qualified sick leave for each day during the year that you were unable to work for the above reasons (up to 10 days). The tax credit is worth the lesser of
- $511 per day or
- 100% of your average daily self-employment income for the year per day.
The only days that may be taken into account in determining the qualified sick leave equivalent amount are days occurring during the period beginning on April 1, 2020, and ending on December 31, 2020.
Under the expanded Family and Medical Leave Act (FMLA) provision of the FFCRA, you would be eligible for qualified family leave for each day that you were unable to work because
- you were caring for someone else impacted by COVID-19 (up to 10 days), or
- your child's school or child care provider was closed or unavailable due to COVID-19 (up to 50 days).
You can claim a tax credit for the lesser of $200 per day or 67% of your average daily self-employment income for the year per day.
TurboTax Desktop Home & Business reviews the credit here:
- Across the top of the screen, click on Personal.
- Across the top of the screen, click on Deductions & credits.
- At the screen How do you want to enter your deductions and credits? click on I'll choose what I work on.
- Under Your 2020 Deductions & Credits, scroll down to Tax relief related to COVID-19.
- Click on Start / Update to the right of Self-employed sick leave credit.
TurboTax Online Self-Employed reviews the credit here:
- Down the left side of the screen, click on Federal.
- Across the top of the screen, click on Deductions & credits.
- At the screen Your tax breaks, scroll down to Tax relief related to COVID-19.
- Click on Start / Update to the right of Self-employed sick leave credit.
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