Foreign tax paid on 1099-Div Box 7 isn't deducted from my tax owed?

[CSKcpa56]

You have to complete Form 1116 in order to get the credit. See Publication 514. 

You have a choice of taking a deduction for the the taxes paid or taking a credit. It's generally much better to take the credit. 

[Hal_Al]

It is a tax credit, not a deduction.   It goes on Schedule 3 line 1; from there to line 20 on form 1040.

TurboTax will pick it up automatically from your form 1099-DIV entry. Usually form 1116 is not needed.