Carryover foreign tax credit

Dear all,
If I understand the guidance correctly, it is possible to carryover any unused foreign tax credit to future years. https://www.irs.gov/taxtopics/tc856#:~:text=Carryback%20and%20Carryover%20of%20Unused%20Credit&text=You%20can%20carry%20back%20for,years%20the%20unused%20foreign%20tax [nofollow] .

My question is: If we move back to the US next year, can we still use the carried over foreign tax credits to apply against gross income or is it only possible to apply these against foreign earned income?

I'm almost certain that you can only use foreign tax carryover credits against foreign sourced income.

see item 3 of this article:

https://www.taxesforexpats.com/articles/immigration/7-important-issues-to-consider-for-overseas-americans-repatriating-to-the-us-in-the-middle-of-the-year.html

I'm almost certain that you can only use foreign tax carryover credits against foreign sourced income.

see item 3 of this article:

https://www.taxesforexpats.com/articles/immigration/7-important-issues-to-consider-for-overseas-americans-repatriating-to-the-us-in-the-middle-of-the-year.html

I agree.

Even folks who have never lived outside the USA use FTCs when a mutual fund invests in overseas equities and pays foreign taxes. Those taxes can be credited against the US taxes one has paid on those same distributions of that mutual fund but not against other US sourced income.

This does raise another question that I would be interested to hear some expert advice on please.

I have some $80k of unused FTC (General category) and $30k of unused FTC (Passive category) currently carrying forward. I'm due to retire this year. If I were to retire and move to US, would I be able to use these unused FTC's against UK sourced pension income and pay US tax only on my Social Security pension?

Or make it even more complicated and live in the US part-time and draw my UK pensions only when I'm in the US and vice versa when I'm in the Uk?

Thanks for the helpful responses. Really appreciate it!

This does raise another question that I would be interested to hear some expert advice on please.

I have some $80k of unused FTC (General category) and $30k of unused FTC (Passive category) currently carrying forward. I'm due to retire this year. If I were to retire and move to US, would I be able to use these unused FTC's against UK sourced pension income and pay US tax only on my Social Security pension?

Or make it even more complicated and live in the US part-time and draw my UK pensions only when I'm in the US and vice versa when I'm in the Uk?

I believe this is right. If you were to move back to the US you can still use the carry forward tax credits to offset foreign earned income. And you shouldn't be UK taxable as you don't live here any more. That's why I was so focused on the other post on whether it is better for us to do FEIE or FTC, as I want to make sure I have some FTC available for that scenario in the future.