Just circling back to add that after hours of reading to "make sure [I] thoroughly understand how to determine exclusions, deductions, and any income reductions", I can confidently say that there is no reason for TurboTax to be punting on this.
Additionally, there is a very pernicious bug which prevents the Foreign Tax Credit from being applied correctly. If one has foreign dividends income reported, and a form 1116 for reporting foreign tax has been generated for that first, before the foreign income tax in this phase, TT will not include the income tax paid in the calculation of the FTC. The 1116 form for the income tax has to be first in the list for TT to recognize it.
I've written up the solution to this (at least one that worked for me), here:
Foreign Tax Credit (FTC) calculation is not including my foreign income tax
(I wouldn't be so sour about this if I hadn't called Turbo Tax support, had them inspect the page, and offer no meaningful help. Of course I had to give them 10/10 on the survey because I'm not going to punish the poor subcontractor phone agent who took my call for the a bug in the software.)
I hope this helps somebody.
