@Arneoker since user @guywong has responded to your two articulated questions, I will comment only on the first paragraph of your post -- to wit:
"My wife says that she wouldn't pay taxes on this pension bonus until next year, so I would think that I couldn't apply for any credit until I do my 2026 tax return, which of course would be in 2027."
1. For US purposes you have to recognize the income in the tax year it was constructively received by you --- so if it was credited ( US Bank , Foreign account , posted etc. ) to you in calendar year 2025, then you have to recognize this on your return for the tax year 2025 --- 2026 filing year. This has nothing to do with when and how you settle your foreign ( source country ) taxes / filings.
2. As I have mentioned earlier, there is no tax treaty in effect between US and Colombia in 2025 -- at the time of distribution. Thus foreign tax credit is NOT available on this income. You may be eligible for SALT, as mentioned earlier.
3. A pension treatment does allow you to deduct her total contribution -- only the rest ( growth plus any employer contribution ) is taxable income.
Is there more I can help you with ?
