Thanks a lot nikki! My 2019 tax was handled by a tax firm, and this is the first year I have to handle FTC myself. Your explanation is incredibly helpful!
My 2019 1116 *almost* matches the simplified method you suggested. In both regular 1116 and AMT 1116, I have the same gross foreign income (3d) and gross income from all sources (3e). However, the regular form had a standard deduction (24,400 for 3c) on both numerator and denominator, so the line 17 is (3d - 3c) and line 18 is (3e - 3c), and the rate is (3d-3c)/(3e-3c). In the AMT 1116, there was no deduction at all, so line 17 / line 18 is simply 3d / 3e. I think this is very close to the simplified method you suggested, but since you mentioned that line 17 in both forms should be the same in order to be eligible for the simplified method, I'm not sure if this is considered "simplified".
Could you (or anyone) help clarify? Thanks!
