Thank you for your response.
I am clear for all (1) through (6), however I think I still have to go through Form 1116 instead of Simplified method.
if 1116 isn't required or filed only enter the foreign tax amount
Even filling form 1116, select Various, and enter the foreign tax amount on 1099DIV?
if form 1116 is not filed you lose any FTC carryovers
Just curious, do you mean losing entire of FTC carryovers from the past years? or it just unused credit of this year ?
In the very first year (2014), I filed a Form 1116, so I believe I lost the right to choose the Simple Method, but if my interpretation is wrong, please point it out to me.
Thank you
