Can Election Not to File Form 1116 (foreign tax credit) be used?

[pk]

of course you can choose to instead use itemized deduction of the foreign taxes. You are not required to use foreign tax credit ( you always need foreign income being taxed by US for  using the credit )

[gir0106]

Taking a credit is almost always more advantageous - but more work

[pk]

depends on one's future situations. Note that while recognized foreign tax credit is dollar for dollar, allowable amount is an allocated amount based on the ratio of foreign income and world modified taxable income. Thus you often end up having foreign tax credit available as carry over -- but these are again allowable/ useable only in association with foreign income.  A deduction does not have that issue but does have phase out issue. So this is really a case by case issue.