Foreign tax credit in case of Loss on real estate property

[kash9]

Sold Two properties in India:
    Property1: Foreign property  (second home) sold at a loss (LongTerm)
    Property2: Foreign property  (plot) sold at a gain (LongTerm).  Paid taxes in India
And need help with some tax filing questions.

Filed the details of both the properties in the Income section.  Scheduled-D (Part II) shows loss on proprty1 as adjustment in column g and gain on property 2 in column h. 

I am using TurboTax desktop Premium product.
Here are the steps I have followed in the TurboTax product, to take Foreign Tax Credit: 
In FEDERAL TAXES > Deductions & Credits > Foreign Taxes

1. Foreign Tax Credit > click on "Yes"

2. Before We Begin > click on "Yes"

3. Foreign Taxes > click on "Continue"

4. Do You Want the Deduction or the Credit? > click on "Take a Credit"

5. Reporting Foreign Taxes Paid > Click on "Continue"

6. First Year You are Eligible? selected the "First year I am eligible for the election" and click Continue

7. Elect the Simplified Method > click on "Elect Simplified Calculation"

8. Completing Forms 1116 >  click on "Continue"

9. .Foreign Tax Credit Worksheet > click on "Continue"

10. Choose the Income Type >  selected the "Passive Income" and click on "Continue"

11. Country Summary > Created a Country "India"

12. Country Name "India"

13. Other Gross Income - India >

    1. Description as "Capital gains fom Sale of Property"

    2. entered the Gains from the Property 2.  Loss from Property 1 is not entered as it is not considered in Scheduled D.

14. Definitely Related Expenses - India > did not entered details and click on "Continue"

15. Foreign Losses > did not enter anything here and click on "Continue"

16. Foreign Taxes Paid - India > entered the taxes paid and click "Continue"

     I have these following questions:
    6. First Year You are Eligible? selected the "First year I am eligible for the election" and click Continue

        Question: Not sure whether this is correct option for me, Please explain what this is.
    7.Elect the Simplified Method > click on "Elect Simplified Calculation"

        Question: Not sure whether this is correct option for me, Please explain what this is.
    13.Other Gross Income - India > Description as "Capital gains fom Sale of Property" and entered the Gains from the Property 2.  Loss from Property 1 are not entered as it is not considered in Scheduled D.
        Question: is this the correct way of entering ignoring the Propoerty 1 loss here.   Also I did enter Sale proceeds - cost basis as the income here, is that correct?

    15.Foreign Losses > did not enter anything here and click on "Continue"
        Question: not sure If I need to enter loss on Propoerty 1 here

@DaveF1006 

[kash9]

@Anonymous_ can someone help with this query?  I have not received any response so far.
@pk

@DaveF1006 

[kash9]

@Anonymous_ is it possible for @pk to answer my qustion?  Not able to at mention PK.