@pk asks for some very helpful information. In the meantime @hoyasaxa73 here is some general info that might be useful.
First, form 1116 is for the foreign tax credit (FTC). It is a credit not a deduction. Deductions reduce your taxable income (a % of which will be your actual tax liability). Credits reduce your tax liability. Credits are therefore much better because you get 100% of them off your taxes. However, the FTC is very complicated and is limited. So you may also choose instead of the FTC to take any foreign tax paid as a deduction on Schedule A if you itemize (most people no longer itemize, so that might not be helpful and only gets you a deduction).
The FTC's purpose is not quite what most people think. It is not simply to give you a credit for foreign tax paid. Rather it is to give you a credit for what the US tax is on income that is also taxed by a foreign country. Because US tax rates are so low, this often results in little or no US tax benefit. E.g. If the foreign country taxed $100 of income @ 25% = $25 and the US gave that preferential capital gains rates of 15% = $15, the FTC would max out at $10. If the US rate were 0% (as is the case for some people -- google zero percent capital gains rate), there would be no FTC because there would be no double taxation.
Also the formula for the FTC is limited to a max of US Tax * [foreign income] / [worldwide income] ... if foreign income is small relative to all income, that will be a small number.
Finally re timing.
For the FTC you may include foreign income taxes that are "paid or accrued" in the tax year ("TY") of the 1040 you are filing. If the foreign country return is for 2024 but filed in 2025 then the amount of foreign tax would seem to accrue in 2024 and you could include it on your 2024 return. Or you can do the default and include it in the year paid (sounds like 2025 for your 2025 1040 filed in 2026). Once you choose accrued you use that in future years. See page 18 of https://www.irs.gov/pub/irs-pdf/i1116.pdf
When dealing with these issues it is often helpful to file for a US extension until 10/15 to give you time to get the foreign country return filed first. It helps to arrange your withholding/estimated tax such that you don't need an early refund. And remember the extension is free and doesn't need a reason but it is only an extension of time to file, not to pay.
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