@pk thanks for the excellent explanation! that is very helpful
a couple of followups to clarify my remaining confusion..
1. you mention safeharbor ($300 credit for single filer) if often more efficient than dreaded form 1116
do you mean easier ? for example if I have $800 of foreign tax this year and i take safe harbor. does that mean i forfeit any carry forward of the remaining $500 but at least i don't have to deal with all the byzentine calculations?
2. regarding the accumulated carry fwd. will it eventually 'expire/drop off the 10 year look back' ? is it one of those situations where, in theory i can use it in the future, but the rules are such that, from a practical perspective, I will never get to use.
i will read the article you linked to as well. thx!
