Do I have to claim a foreign tax credit? I'm eligible for $1 in credits and I would rather not bother. Can I simply do the standard deduction and not claim the credit?

[VolvoGirl]

You get it either as a itemized deduction or as a separate credit.   You can do the Standard Deduction  and still get the credit.   Go back though the Foreign tax section and pick credit.  

[VolvoGirl]

And see, How to claim the Foreign Tax Credit Form 1116
https://ttlc.intuit.com/questions/1901623-how-do-i-claim-the-foreign-tax-credit

[monicaerdman]

I'm not asking how to claim it. I'm asking if it is optional. I do not want the credit.

[ThomasM125]

You are not required to take a foreign tax credit, but if the foreign tax is listed on a Form 1099-DIV or 1099-INT then TurboTax will give you the credit automatically if your foreign taxes are below a certain amount. The only way to avoid this is to not enter the foreign taxes when you enter your Form 1099, but you can do that if you want.

[AlAnn]

Hello. I have exactly the same problem as you -- have you found a solution?  My 1099's are imported so the foreign interest is there. But I don't want to bother with a tax refund.  Thanks for any help you can give me.

[JamesG1]

If the IRS form 1099-INT and IRS form 1099-DIV include foreign taxes paid, you may remove those taxes.  

IRS form 1099-INT taxes are found in box 6.  IRS form 1099-DIV taxes are found in box 7.

Or you may leave the taxes in place and compute the Foreign Tax Credit on IRS Form 1116.  In TurboTax Premium Online, follow these steps:

1. Down the left side of the screen, click Federal.
2. Down the left side of the screen, click Deductions & credits.
3. Click the down arrow to the right of Estimates and Other Taxes Paid.
4. Click to the right of Foreign Tax Credit.
5. Follow the screens to see whether you qualify for the credit or deduction.

@AlAnn