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PavelMakarchuk committed Dec 4, 2024
1 parent b851220 commit 906e7d2
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taxable_private_pension_income: 4000
social_security_retirement: 12000
real_estate_taxes: 2000
deductable_mortgage_interest: 1000
deductible_mortgage_interest: 1000
self_employment_income: 121010
business_is_qualified: true
business_is_sstb: false
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rental_income: 1005
taxable_private_pension_income: 2500
real_estate_taxes: 4000
deductable_mortgage_interest: 36000
deductible_mortgage_interest: 36000
self_employment_income: 127010
business_is_qualified: true
business_is_sstb: false
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person1:
age: 50
employment_income: 80_000
deductable_mortgage_interest: 3_000
deductible_mortgage_interest: 3_000
person2:
age: 50
employment_income: 20_000
deductable_mortgage_interest: 3_000
deductible_mortgage_interest: 3_000
tax_units:
tax_unit:
members: [person1, person2]
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period: 2021
input:
real_estate_taxes: 12_000
deductable_mortgage_interest: 36_000
deductible_mortgage_interest: 36_000
state_fips: 28 # MS
output: # expected results from filling out 2021 MS form 80-108
ms_itemized_deductions_unit: 46_000
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filing_status: JOINT
adjusted_gross_income: 364_695
state_and_local_sales_or_income_tax: 19_956
deductable_mortgage_interest: 36_000
deductible_mortgage_interest: 36_000
state_code: VA
output:
va_reduced_itemized_deductions: 35_282
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long_term_capital_gains: 1005.0
rental_income: 2505.0
real_estate_taxes: 24000
deductable_mortgage_interest: 14000
deductible_mortgage_interest: 14000
self_employment_income: 141010
business_is_qualified: true
business_is_sstb: false
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from policyengine_us.model_api import *


class deductable_mortgage_interest(Variable):
class deductible_mortgage_interest(Variable):
value_type = float
entity = Person
label = "Deductable mortgage interest"
label = "Deductible mortgage interest"
documentation = "Under the interest deduction, the US caps the mortgage value to which interest is applied which based on the year of purchase not tax year."
unit = USD
definition_period = YEAR
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Expand Up @@ -8,4 +8,4 @@ class interest_expense(Variable):
unit = USD
definition_period = YEAR

adds = ["deductable_mortgage_interest", "non_mortgage_interest"]
adds = ["deductible_mortgage_interest", "non_mortgage_interest"]

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