Get your taxes done using TurboTax

It turns out that there is a much easier way than trying to fill out the form 1116 directly: go to tab "Deductions and Credits", under section "Estimates and Other Taxes Paid", click the button "Start" for the line "Foreign Taxes". Follow the wizard, making sure to click the button "Take a Credit" when choosing between itemized deduction or credit. It continues with a wizard for the form 1116.