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How is a brazilian "VGBL" retirement account lump sum distribution to a 47 year old brazilian expat living in the USA with greencard entered into turbotax?
My wife has been living with me for the past few years in the USA. she has a green card. her tax status in brazil is non-resident. she paid 15% tax on the gains from the pension retirement account called a VGBL. from her initial investment of 100%, she withdrew everything and came out 2.25x more money than what she put in. Does she owe taxes on the 125% of capital gains? how much taxes? I believe I know i can get a foreign tax credit for the 15% that was withheld from her lump-sum distribution in brazil.
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‎January 31, 2020
4:15 PM