This is a software error and here is the workaround. If you are using the desktop version, use “A”; if using the on-line version, use  “B”

(A)
Bring up Form 1040 Wks. and make sure the credit is posted on line 48. If it is then bring up the
1099-DIV Worksheet.  In Box 7, double click on the f1116 icon.

Another box will appear. You will see the phrase “Form 1116 (COPY 1)”.  Click on that and it will be highlighted.  Then click on the “LINK” button.

That box will disappear and you will see the phrase “COPY 1” inside the f1116 icon.

Then recheck Form 1040 Wks. and make sure the credit is still posted on line 48. If so, the error is cleared, no f1116 will be generated and you are done.

(B)
It is assumed you are using the exemption and the credit is posted on line 48 of the 1040 Wks.  Go to the Foreign Tax Credit interview.  We will be going into the interview just far enough so TT will Link to COPY 1 of a f1116 although no f1116 will actually be generated.  Here are the headers and the responses.

1. Foreign Tax Credit
             Continue
2. Tell Us About Your Foreign Taxes
             Check the “None of these apply.”
              Make sure the other 2 are blank.
               Continue
3. Foreign Taxes
                Continue
4. Do You Want the Deduction or the Credit?
               Take a Credit.
5. Reporting Foreign Taxes Paid
                 Continue
6. Where Did You Receive Dividend Income From?
                If already selected, Continue, otherwise select any one. It doesn’t matter as it is not needed.
7.  Income From Foreign Countries
              “Report Income.”
8. Report Foreign Tax Paid to XXXX.
             Check under “Select”.
             Continue.
9. Foreign Source Income
             If there is an entry, ignore it otherwise type in any arbitrary amount. It is only a filler and not needed.
              Continue.
10. Reporting Foreign Taxes Paid.
             At this point, TT should have inserted the Link and cleared the error without generating a f1116. We want to     vacate the interview now, so I suggest selecting “Smart Check” to see if the error is cleared.  If so, verify the     credit is still on line 48 of the 1040 Wks. and you are done.                      

I had the same problem with 4 foreign tax credit error messages.  Your fix was very helpful in clearing 3 of the 4 errors.  On the fourth I was asked to choose column A, B, or C.  Since I haven't filled out the form I don't know which to choose.  Box 8 is also highlighted in pink on the form asking which country the tax was paid to (that would be Canada).  If you have any suggestions, I would appreciate them. Thank you.  

Did you use the "A" or "B" method?

Oh.  I should have put the method in.  I used the A method with the desktop Premium software.  For now, I chose column A and left the country blank on line 8 of the appropriate 1099-Div worksheet.  The software has accepted that and no longer protests that the form is in error.  I'm assuming from your explanation that Form 1116 doesn't actually exist for my return and this choice of column won't make much difference.  Thanks for getting back.

I have a similar situation (using method A) with TT requesting me to choose column A, B, or C.  I selected column A and it "seemed" to also clear the error.  I'll be following this discussion to make sure that approach is correct and won't cause any problems with my filing.

Using Option A - TT Premier....no "Line 48" on either of the 1040 Wks forms  (standard of the 2 Persoanl form for my wife & I

Method B does not work. You said

 2. Tell Us About Your Foreign Taxes
             Check the “None of these apply.” <<==== there is no such checkbox