This is the technique to utilize the exemption instead of filling out f1116.

 Go to the foreign tax credit interview and when you
start, here are the screen headers and the responses.       
1. Foreign tax credit
         Continue
2. Tell us about your foreign taxes.
         Skip the foreign tax credit.
3.  Foreign Taxes
             Continue
TT will exit the interview and the credit should appear on line 48 of the 1040.

I tried it. But it makes me do a Form 1116. If you ask for CREDIT. Maybe it works if you take Exemption only.

If the foreign tax paid is more than $300 ($600 for Married Filing Jointly) or they do not meet the other conditions to make the election to claim the foreign tax credit without filing Form 1116, taxpayers must file Form 1116 to claim the foreign tax credit. Please read the first page of this IRS link regarding the election To Claim the Foreign Tax Credit Without Filing Form 1116.