policyengine-us 1.441.1__py3-none-any.whl → 1.441.2__py3-none-any.whl

policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/alternative_minimum_tax/exemption/amt_exemption.yaml

@@ -0,0 +1,68 @@
+- name: No phase-out, no kiddie tax
+  period: 2022
+  input:
+    amt_income: 200_000
+    amt_kiddie_tax_applies: false
+    filer_adjusted_earnings: 400_000
+    filing_status: SINGLE
+  output:
+    # Base exemption for SINGLE in 2022 is 75,900
+    # income_excess = max(0, 200,000 - 539,900) = 0
+    # No phase-out, full exemption of 75,900
+    amt_exemption: 75_900
+
+- name: No phase-out, kiddie tax applies with low earnings
+  period: 2022
+  input:
+    amt_income: 200_000
+    amt_kiddie_tax_applies: true
+    filer_adjusted_earnings: 10_000
+    filing_status: SINGLE
+  output:
+    # Base exemption for SINGLE in 2022 is 75,900
+    # reduced_exemption = 75,900 (no phase-out)
+    # exemption_cap = 10,000 + 8,200 (child amount) = 18,200
+    # amt_exemption = min(75,900, 18,200) = 18,200
+    amt_exemption: 18_200
+
+- name: Full phase-out at high income
+  period: 2022
+  input:
+    amt_income: 1_000_000
+    amt_kiddie_tax_applies: false
+    filer_adjusted_earnings: 400_000
+    filing_status: SINGLE
+  output:
+    # Base exemption for SINGLE in 2022 is 75,900
+    # income_excess = max(0, 1,000,000 - 539,900) = 460,100
+    # exemption_phase_out = 0.25 * 460,100 = 115,025
+    # reduced_exemption = max(0, 75,900 - 115,025) = 0
+    amt_exemption: 0
+
+- name: Partial phase-out
+  period: 2022
+  input:
+    amt_income: 600_000
+    amt_kiddie_tax_applies: false
+    filer_adjusted_earnings: 400_000
+    filing_status: SINGLE
+  output:
+    # Base exemption for SINGLE in 2022 is 75,900
+    # income_excess = max(0, 600,000 - 539,900) = 60,100
+    # exemption_phase_out = 0.25 * 60,100 = 15,025
+    # reduced_exemption = max(0, 75,900 - 15,025) = 60,875
+    amt_exemption: 60_875
+
+- name: Joint filers, no phase-out
+  period: 2022
+  input:
+    amt_income: 500_000
+    amt_kiddie_tax_applies: false
+    filer_adjusted_earnings: 400_000
+    filing_status: JOINT
+  output:
+    # Base exemption for JOINT in 2022 is 118,100
+    # Phase-out starts at 1,079,800
+    # income_excess = max(0, 500,000 - 1,079,800) = 0
+    # Full exemption of 118,100
+    amt_exemption: 118_100

policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/exemption/amt_exemption.py

@@ -0,0 +1,47 @@
+from policyengine_us.model_api import *
+
+
+class amt_exemption(Variable):
+    value_type = float
+    entity = TaxUnit
+    definition_period = YEAR
+    label = "Alternative Minimum Tax exemption"
+    unit = USD
+    documentation = (
+        "AMT exemption amount after phase-out and kiddie tax adjustments. "
+        "Form 6251, Line 5."
+    )
+    reference = [
+        "https://www.law.cornell.edu/uscode/text/26/55#d",  # 26 U.S.C. § 55(d)
+        "https://www.irs.gov/instructions/i6251",
+    ]
+
+    def formula(tax_unit, period, parameters):
+        p = parameters(period).gov.irs.income.amt
+        phase_out = p.exemption.phase_out
+        filing_status = tax_unit("filing_status", period)
+        amt_income = tax_unit("amt_income", period)
+
+        # Base exemption amount based on filing status
+        base_exemption_amount = p.exemption.amount[filing_status]
+
+        # Phase-out at higher income levels
+        income_excess = max_(0, amt_income - phase_out.start[filing_status])
+        exemption_phase_out = phase_out.rate * income_excess
+        reduced_exemption_amount = max_(
+            0,
+            base_exemption_amount - exemption_phase_out,
+        )
+
+        # A reduced exemption amount is applied to kiddie tax filers
+        kiddie_tax_applies = tax_unit("amt_kiddie_tax_applies", period)
+        adj_earnings = tax_unit("filer_adjusted_earnings", period)
+        child_amount = p.exemption.child.amount
+
+        exemption_cap = where(
+            kiddie_tax_applies,
+            adj_earnings + child_amount,
+            np.inf,
+        )
+
+        return min_(reduced_exemption_amount, exemption_cap)

policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/income/amt_income_less_exemptions.py

@@ -17,28 +17,10 @@ class amt_income_less_exemptions(Variable):
         taxable_income = tax_unit("taxable_income", period)
         kiddie_tax_applies = tax_unit("amt_kiddie_tax_applies", period)
         applied_income = where(kiddie_tax_applies, taxable_income, amt_income)
+
         # Form 6251, Part II top
-        p = parameters(period).gov.irs.income.amt
-        phase_out = p.exemption.phase_out
-        filing_status = tax_unit("filing_status", period)
-        # Line 5 the exemption amount is based on filing status and
-        # is phased-out at higher income
-        base_exemption_amount = p.exemption.amount[filing_status]
-        income_excess = max_(0, amt_income - phase_out.start[filing_status])
-        exemption_phase_out = phase_out.rate * income_excess
-        reduced_exemption_amount = max_(
-            0,
-            (base_exemption_amount - exemption_phase_out),
-        )
-        # A reduced exemption amount is applied to kiddie tax filers
-        adj_earnings = tax_unit("filer_adjusted_earnings", period)
-        child_amount = p.exemption.child.amount
+        # Line 5
+        amt_exemption = tax_unit("amt_exemption", period)
 
-        exemption_cap = where(
-            kiddie_tax_applies,
-            adj_earnings + child_amount,
-            np.inf,
-        )
-        capped_exemption_amount = min_(reduced_exemption_amount, exemption_cap)
         # Line 6
-        return max_(0, applied_income - capped_exemption_amount)
+        return max_(0, applied_income - amt_exemption)

{policyengine_us-1.441.1.dist-info → policyengine_us-1.441.2.dist-info}/METADATA

@@ -1,6 +1,6 @@
 Metadata-Version: 2.4
 Name: policyengine-us
-Version: 1.441.1
+Version: 1.441.2
 Summary: Add your description here.
 Author-email: PolicyEngine <hello@policyengine.org>
 License-File: LICENSE

{policyengine_us-1.441.1.dist-info → policyengine_us-1.441.2.dist-info}/RECORD

@@ -3709,6 +3709,7 @@ policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/alternative_min
 policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/alternative_minimum_tax/base_tax/amt_base_tax.yaml,sha256=SXdsIDBaCdOyYvRwtStZfl3GKynf0EjGU8H8bG2OUjs,457
 policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/alternative_minimum_tax/base_tax/amt_higher_base_tax.yaml,sha256=nvJD0yK_3HHqTGPEWYLhpYFM3xvmOP9q-aerHFOhsxY,488
 policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/alternative_minimum_tax/base_tax/amt_lower_base_tax.yaml,sha256=6hIYLFWVlvc97ZP0dCagPIGEVNblercTEzwUoxo9s-4,475
+policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/alternative_minimum_tax/exemption/amt_exemption.yaml,sha256=q2q_EpzliOp0gVzQLH0MC5MfqVIof2ztfHUHITNAnvQ,2062
 policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/alternative_minimum_tax/income/amt_excluded_deductions.yaml,sha256=TzOqHwdeqP_Hgb7pQmRzIeOEHlzPM1o7uHdx1HUmHzk,1037
 policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/alternative_minimum_tax/income/amt_income.yaml,sha256=afFV4CTgYBIMvLZZBLy6D9e8lDVVVB4i6ihNH7_r6ko,1103
 policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/alternative_minimum_tax/income/amt_income_less_exemptions.yaml,sha256=SJUu7xmDLojXjkx1C8JvDV8XKEsOasurOOsbZ2A5KEs,1108
@@ -6082,9 +6083,10 @@ policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/reg
 policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/base_tax/amt_base_tax.py,sha256=4yYT2wf3SHjQuFALh_tmklKdlXRvkm1G30X31TMKPmw,448
 policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/base_tax/amt_higher_base_tax.py,sha256=OiFFFTCJgkOoBoB1gy6BE6CuKg2l0hU7EzNcF_pSFJ8,878
 policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/base_tax/amt_lower_base_tax.py,sha256=FN7x9iFA5g1R4VTzIsq8CX54lK8uTTqKWFkh_CTqyqU,869
+policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/exemption/amt_exemption.py,sha256=1hSL12Xg0ikKjzF0c_TFG2QuiRKgw7Vz2Xnpc2Cyoqw,1629
 policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/income/amt_excluded_deductions.py,sha256=0QgcutGxblZdZjvIxGK2Nr9-Thhcc54TT5hyQDU7eWo,735
 policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/income/amt_income.py,sha256=8pynvFT8URaSMlkIkPGlXlP37Ope550_xVO4AD62X3M,391
-policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/income/amt_income_less_exemptions.py,sha256=qMXau2fX_FONv8SqMG_I0dFX1HKUGjI2FYLvhkWiKYU,1850
+policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/income/amt_income_less_exemptions.py,sha256=kj5aaS0HAlYtIQd8OKCHxO_Ru2aH469WEjKRNphUi8g,930
 policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/income/amt_separate_addition.py,sha256=Hz_ffYTqDz4BCQWj9ksLoB7zJEYKYtdshNFFcvIL3UI,1023
 policyengine_us/variables/gov/irs/tax/federal_income/alternative_minimum_tax/kiddie_tax/amt_kiddie_tax_applies.py,sha256=kNMlkpgKXiapLN0UDEoT5Y_qeA2DjrvIUrF97zTpBow,629
 policyengine_us/variables/gov/irs/tax/federal_income/before_credits/income_tax_before_credits.py,sha256=FIHI5BXMxRRITDIzwhb_jZCtMELOE4vl2Ui5zPNefy4,410
@@ -8881,8 +8883,8 @@ policyengine_us/variables/input/farm_income.py,sha256=BEKxYmHNNnWJAAvULl5qZJigy5
 policyengine_us/variables/input/geography.py,sha256=Ux0ueAf0rhZaflyEqz81UuXP3xKCKBDvoO3CrKhiQEc,5421
 policyengine_us/variables/input/self_employment_income.py,sha256=PwsGz8R4lRikKWUYOhsC0qosNNLXq4f5SQmfw4S3mk8,511
 policyengine_us/variables/input/self_employment_income_before_lsr.py,sha256=E8fcX9Nlyqz8dziHhQv_euutdmoIwFMMWePUwbbwv_w,379
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-policyengine_us-1.441.1.dist-info/WHEEL,sha256=qtCwoSJWgHk21S1Kb4ihdzI2rlJ1ZKaIurTj_ngOhyQ,87
-policyengine_us-1.441.1.dist-info/entry_points.txt,sha256=MLaqNyNTbReALyKNkde85VkuFFpdPWAcy8VRG1mjczc,57
-policyengine_us-1.441.1.dist-info/licenses/LICENSE,sha256=2N5ReRelkdqkR9a-KP-y-shmcD5P62XoYiG-miLTAzo,34519
-policyengine_us-1.441.1.dist-info/RECORD,,
+policyengine_us-1.441.2.dist-info/METADATA,sha256=AjgzaOgQ6Gm2zv-apDpi4AHAZR33eKyfi8u_0g_vucA,1649
+policyengine_us-1.441.2.dist-info/WHEEL,sha256=qtCwoSJWgHk21S1Kb4ihdzI2rlJ1ZKaIurTj_ngOhyQ,87
+policyengine_us-1.441.2.dist-info/entry_points.txt,sha256=MLaqNyNTbReALyKNkde85VkuFFpdPWAcy8VRG1mjczc,57
+policyengine_us-1.441.2.dist-info/licenses/LICENSE,sha256=2N5ReRelkdqkR9a-KP-y-shmcD5P62XoYiG-miLTAzo,34519
+policyengine_us-1.441.2.dist-info/RECORD,,