Generally it's the dividends that get taxed by foreign governments, not the stock sales. I just filled this out this morning.
Interestingly, TT does not include the entry "various" for the country in the interview, but it is there in the forms view if you have the desktop software.
I did not have success following the interview questions. I tried, but I had to go back and make corrections in the form view. Perhaps this will get better in future years, or I will. Form 1116 is used for many different kinds of tax situations, the least of which may be taxes on dividends of foreign companies, hence the application of the form to this particular situation is more obscure. Maybe the IRS will design another form some day?! (I'm not holding my breath.)
The limit on the credit is the tax rate for your overall return, but the foreign tax rate on dividends might be as high as 20-25% for some countries. (Here's looking at you, Ireland!)
