You may not be eligible for the simplified method.
There are actually three conditions that must be met to claim foreign tax credit without using Form 1116, but most people only know about the $300/$600 limit.
According to the 2021 Instructions for Form 1116, the conditions are:
• All of your foreign source gross income was “passive category income” (which includes most interest and dividends).
• All the income and any foreign taxes paid on it were reported to you on a qualified payee statement. Qualified payee statements include Form 1099-DIV, Form 1099-INT, Schedule K-1 (Form 1041), Schedule K-3 (Form 1065), Schedule K-3 (Form 1120-S), or similar substitute statements.
• Your total creditable foreign taxes aren't more than $300 ($600 if married filing a joint return).
If this isn't your scenario, please post back.
@Terryho99
