I have passive income (interests) generated from a foreign bank account in country X. The bank has withhold tax in country X but I'll get refund for all of it when I file taxes in country X. None of this is reflected in my 1099.
In addition to the above, I had invested in international mutual funds in a brokerage account in the US. My 1099-DIV reflects $30 as Foreign tax paid (Box 7 Form 1099-DIV).
In my scenario, I need foreign tax credit only on $30 reflected on my 1099 and nothing for the withholding in country X. Do I need to file F1116 or just mentioning $30 on line 48 Schedule 3 would suffice?