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Get your taxes done using TurboTax
To be eligible for the The Simplified Election, qualified foreign taxes must be $300 ($600 if MFJ) or less. In addition, all foreign source income must be passive category income (such as interest and dividends) and taxpayer meets the other requirements as explained in Instructions for Form 1116.
If your foreign tax credit was more than the parameters described above, or if you had a Form 1116 in your return last year, then you more than likely used the general method. Unfortunately, there is nothing on a Form 1116 or Form 1116 AMT that indicates what method you actually used.
Just an FYI, unless you have an situation where do need to pay AMT this year, this information is not critical to your return.
This year since your foreign taxes are over the amounts listd above, I would suggest you answer no regarding the simplified election question.
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