i do not know if this is your situation, but if the FTC amount for what is termed passive income (really portfolio) is $300 or less ($600 or less if married filing joint) the form can be omitted under the Simplified Method. what you lose by using the SM is that ability to use any FTC carryforward from 2018 is lost and you get no carryover of unused FTC to 2020. the 1116 is required for passive/portfolio income if you are taking the FTC for any other category of FTC such as general, 901(l), 951A, etc.
