It depends. in the first part of your question, Investment interest expense is a itemized deduction that is shown on line 9 of Schedule A if you itemize deductions. It should not factor into the computation of your foreign tax credit as it is not a credit. I would remove the entry wherever this is entered this to avoid additional confusion.
lines 34 and 35 in the 1040 should have nothing to do with what you claimed as an investment expense. Usually the difference in Lines 34 & 35 has to do with how you chose to receive your refund and if you wish to defer all or part of it to apply toward next year's taxes. It is a refund option that is offered.
Remove the investment interest expense entry and see if this clears everything up.
@cbstewart
[ Edited 03/03/22|01:12 PM PST]
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