I used TurboTax to file my tax year 2023 tax return. In that year I received the full credit of $538 for the foreign tax credit shown on line 7 of my fidelity investments form 1099 div. However, there was no form 1116 associated with my TurboTax return. Only a schedule 3 that showed the full $538 dollar credit on line 8.
I am also using TurboTax for tax year 2024. I don’t understand why I received a full $538 credit in tax year 2023, but only a $40 dollar credit in tax year 2024. Furthermore I don’t understand Form 1116 was not part of my 2023 paperwork needed for filing.
