Self-Employed taxpayers are eligible to take the credit. However, you can't take the credit if you have no tax liability. To verify you are eligible to take the credit, Look at your Form 1040, Line 18. From that number, you have to subtract the amounts on Schedule 3, Lines 1-3. If that amount is 0, you can't take the credit.
Schedule 3, Lines 1-3 include:
The Foreign Tax Credit
The Dependent and Child Care Credit and
Education Credits
What Is the Savers Credit?
The Retirement Savings Contributions Credit (Saver’s Credit) helps low and middle-income taxpayers save for retirement. Sometimes this is called the Credit for Qualified Retirement Savings Contribution or Retirement Credit. It’s a non-refundable tax credit which means it can’t reduce the amount of tax owed to less than zero.
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