Scenario:
Rental property in Ireland running at a loss (renting for less than mortgage). Income tax paid to Irish Government.

Question:
1) We earn over $200k, would we get a credit for this loss on our US taxes? I note a previous post mentioned an income limitation.

2) If the property was sold, CGT would be payable to the Irish Government at 22%. Would we get a credit for this when filing US taxes or would we be liable for additional CGT in the US?

Thank you in advance.

Assuming you are a U.S. citizen or resident:
1. Yes, you will get credit for loss on rental property subject to the limitations. It is reported on schedule E (Form 1040).

2. If you sell the property, you will report sale on schedule D (Form 1040). You will claim credit for taxes paid in foreign country by filing Form 1116. Read: Your U.S. Tax Return: U.S. Citizen or Resident with Foreign Income

There is nothing wrong with MukatA's general advice, but there are more variables here than can be adequately covered.

For this reason, you REALLY need to see a tax pro with international tax experience face-to-face.