Hi there - and thanks for this information. Just so I'm clear:
A) the amounts in question will be significantly larger than $300 (I am a US citizen and a single filer), so I guess a form 1116 will be in my future.
b) My US taxes are based on my residence in Washington State - so there would be no SALT for me!
c) Assuming that this will be my situation, I'm not clear on the impact of "world income" vs "foreign income". I have been retired all of 2022, and my income has been interest, dividends (on my Roth IRA, Traditional IRA, brokerage and bank account) and my pension from a US-based company. While I do have holdings in a "Brazil ETF" which has positions in Brazilian companies (EWZ - MSCI Brazil ETF), I have no idea if this would be treated as foreign holdings or US holdings. Can you explain (or point me in the direction of more information) about the impact? For example, I think that for 2022 I will have approximately $68k in pension, about $10k in taxable distribution/interest (brokerage/bank accounts only) and a $20k withdrawal from my Traditional IRA (total "income" of $98k). I expect that I will need to be paying Brazilian taxes of about $10k. How would the limits you mention apply?
Thanks in advance!!
Richard
