Box 7 from the broker is incomplete and not necessary. Here is how it works. When you enter the foreign tax credit interview section, you will enter a screen asking you to select either a deduction or a credit. After you confirm one or the other, TT in the background will correct 6a. After this, if you elect to take the credit and you qualify for the exemption, TT will inform you and you will end the interview. If you do not qualify for the exemption, then you continue with the interview. You will get to a screen where you will select the countries and continue through the screens inserting the necessary data. After you finish, TT will generate a form 1116 and calculate the foreign tax credit.
