Thank you. This is a helpful answer. As a follow up, the link provided does seem to confirm that the capital gains from the sale of US stock can be treated as "foreign source income" for IRS tax purposes. I have a similar question regarding IRA/401k distributions. I took a distribution from my retirement account (not a Roth) in 2023 and the IRS treats this entire distribution as ordinary income. Could this also be seen by the IRS as "foreign source" and thus also subject to the FTC since Australia will also tax this distribution as ordinary income as well.?
