That’s not necessarily correct.
The entry for line 33 of Form 1116 is to be populated by the smaller of the amounts from line 20 or line 32. It’s possible that the line 24 amount will be the same as the line 20 amount, but it’s not necessarily the case.
Line 35 would then be the amount from line 33, adjusted by any reduction of credit for international boycott operations.
See the 2021 Instructions for Form 1116, and the form itself, linked above.
