diff --git a/changelog.d/bond-interest-batch-1.added.md b/changelog.d/bond-interest-batch-1.added.md new file mode 100644 index 00000000000..ceedc8aee71 --- /dev/null +++ b/changelog.d/bond-interest-batch-1.added.md @@ -0,0 +1 @@ +Add US government bond interest exemption for AL, AR, CA, DC, DE. Add tests for all 10 states (AL, AR, AZ, CA, CO, CT, DC, DE, GA, HI). diff --git a/policyengine_us/parameters/gov/states/al/tax/income/agi/deductions.yaml b/policyengine_us/parameters/gov/states/al/tax/income/agi/deductions.yaml index 2f70c845626..efda2cf0743 100644 --- a/policyengine_us/parameters/gov/states/al/tax/income/agi/deductions.yaml +++ b/policyengine_us/parameters/gov/states/al/tax/income/agi/deductions.yaml @@ -5,11 +5,13 @@ values: - traditional_ira_contributions # Line 1 - alimony_expense # Line 4 - self_employed_health_insurance_ald # Line 7 + - us_govt_interest 2023-01-01: # IRA distributions prior to 1982 are not deductible. - traditional_ira_contributions # Line 1 - alimony_expense # Line 4 - self_employed_health_insurance_ald # Line 7 + - us_govt_interest - al_retirement_exemption #Schedule RS Line 10 metadata: diff --git a/policyengine_us/parameters/gov/states/ar/tax/income/exemptions/exemptions.yaml b/policyengine_us/parameters/gov/states/ar/tax/income/exemptions/exemptions.yaml index 49dd6418561..ef1073e3fb1 100644 --- a/policyengine_us/parameters/gov/states/ar/tax/income/exemptions/exemptions.yaml +++ b/policyengine_us/parameters/gov/states/ar/tax/income/exemptions/exemptions.yaml @@ -2,6 +2,7 @@ description: Arkansas exempts these sources from state gross income. values: 2021-01-01: - ar_capped_retirement_or_disability_benefits_exemption_person # Item 12 + - us_govt_interest_person metadata: unit: list diff --git a/policyengine_us/parameters/gov/states/ca/tax/income/agi/subtractions.yaml b/policyengine_us/parameters/gov/states/ca/tax/income/agi/subtractions.yaml index 1b9188edeac..a303c825faa 100644 --- a/policyengine_us/parameters/gov/states/ca/tax/income/agi/subtractions.yaml +++ b/policyengine_us/parameters/gov/states/ca/tax/income/agi/subtractions.yaml @@ -3,6 +3,7 @@ values: 2021-01-01: - taxable_social_security - taxable_unemployment_compensation + - us_govt_interest metadata: reference: diff --git a/policyengine_us/parameters/gov/states/dc/tax/income/subtractions/sources.yaml b/policyengine_us/parameters/gov/states/dc/tax/income/subtractions/sources.yaml index d70cd5937c6..5395562d7ea 100644 --- a/policyengine_us/parameters/gov/states/dc/tax/income/subtractions/sources.yaml +++ b/policyengine_us/parameters/gov/states/dc/tax/income/subtractions/sources.yaml @@ -19,3 +19,4 @@ values: - taxable_unemployment_compensation - dc_disabled_exclusion_subtraction - dc_disability_exclusion + - us_govt_interest_person diff --git a/policyengine_us/parameters/gov/states/de/tax/income/subtractions/subtractions.yaml b/policyengine_us/parameters/gov/states/de/tax/income/subtractions/subtractions.yaml index fd3718a25e7..0500b926636 100644 --- a/policyengine_us/parameters/gov/states/de/tax/income/subtractions/subtractions.yaml +++ b/policyengine_us/parameters/gov/states/de/tax/income/subtractions/subtractions.yaml @@ -3,6 +3,7 @@ values: 2021-01-01: - de_pension_exclusion # (3) - taxable_social_security # (4) + - us_govt_interest_person # The elderly or disabled income exclusion is computed separately # - de_elderly_or_disabled_income_exclusion # (2) diff --git a/policyengine_us/tests/policy/baseline/gov/states/al/tax/income/al_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/al/tax/income/al_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..8e38892af6a --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/al/tax/income/al_us_govt_bond_interest.yaml @@ -0,0 +1,8 @@ +- name: AL includes US government bond interest in AGI deductions + period: 2024 + input: + state_code: AL + interest_income: 10_000 + us_govt_interest: 5_000 + output: + al_agi: 5_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/ar/tax/income/ar_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/ar/tax/income/ar_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..9a94fb38c1a --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/ar/tax/income/ar_us_govt_bond_interest.yaml @@ -0,0 +1,7 @@ +- name: AR includes US government bond interest in exemptions + period: 2024 + input: + state_code: AR + us_govt_interest_person: 5_000 + output: + ar_exemptions: 5_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/az/tax/income/az_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/az/tax/income/az_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..be1f51b1a99 --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/az/tax/income/az_us_govt_bond_interest.yaml @@ -0,0 +1,7 @@ +- name: AZ includes US government bond interest in subtractions + period: 2024 + input: + state_code: AZ + us_govt_interest: 5_000 + output: + az_subtractions: 5_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/ca/tax/income/ca_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/ca/tax/income/ca_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..7287bec3715 --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/ca/tax/income/ca_us_govt_bond_interest.yaml @@ -0,0 +1,7 @@ +- name: CA includes US government bond interest in AGI subtractions + period: 2024 + input: + state_code: CA + us_govt_interest: 5_000 + output: + ca_agi_subtractions: 5_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/co_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/co_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..a04f57e5202 --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/co_us_govt_bond_interest.yaml @@ -0,0 +1,7 @@ +- name: CO includes US government bond interest in subtractions + period: 2024 + input: + state_code: CO + us_govt_interest: 5_000 + output: + co_subtractions: 5_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/ct/tax/income/ct_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/ct/tax/income/ct_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..bf3c9360dac --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/ct/tax/income/ct_us_govt_bond_interest.yaml @@ -0,0 +1,7 @@ +- name: CT includes US government bond interest in AGI subtractions + period: 2024 + input: + state_code: CT + us_govt_interest: 5_000 + output: + ct_agi_subtractions: 5_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/dc/tax/income/dc_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/dc/tax/income/dc_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..e9664f84008 --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/dc/tax/income/dc_us_govt_bond_interest.yaml @@ -0,0 +1,7 @@ +- name: DC includes US government bond interest in income subtractions + period: 2024 + input: + state_code: DC + us_govt_interest_person: 5_000 + output: + dc_income_subtractions: 5_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/de/tax/income/de_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/de/tax/income/de_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..6eece145488 --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/de/tax/income/de_us_govt_bond_interest.yaml @@ -0,0 +1,7 @@ +- name: DE includes US government bond interest in subtractions + period: 2024 + input: + state_code: DE + us_govt_interest_person: 5_000 + output: + de_subtractions: 5_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/ga/tax/income/ga_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/ga/tax/income/ga_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..b6507f336ea --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/ga/tax/income/ga_us_govt_bond_interest.yaml @@ -0,0 +1,7 @@ +- name: GA includes US government bond interest in subtractions + period: 2024 + input: + state_code: GA + us_govt_interest: 5_000 + output: + ga_subtractions: 5_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/hi/tax/income/hi_us_govt_bond_interest.yaml b/policyengine_us/tests/policy/baseline/gov/states/hi/tax/income/hi_us_govt_bond_interest.yaml new file mode 100644 index 00000000000..5f1753f37de --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/hi/tax/income/hi_us_govt_bond_interest.yaml @@ -0,0 +1,7 @@ +- name: HI includes US government bond interest in subtractions + period: 2024 + input: + state_code: HI + us_govt_interest: 5_000 + output: + hi_subtractions: 5_000