policyengine-us 1.455.0__py3-none-any.whl → 1.456.0__py3-none-any.whl

policyengine_us/parameters/gov/irs/deductions/qbi/max/reit_ptp_rate.yaml

@@ -0,0 +1,13 @@
+description: REIT and PTP income is deducted at this rate under the qualified business income deduction.
+metadata:
+  label: REIT/PTP income deduction rate
+  unit: /1
+  period: year
+  reference:
+    - title: 26 U.S. Code § 199A(b)(1)(B) - Combined qualified business income amount
+      href: https://www.law.cornell.edu/uscode/text/26/199A#b_1_B
+    - title: IRS Form 8995 Lines 6-9 - REIT and PTP Component
+      href: https://www.irs.gov/pub/irs-pdf/f8995.pdf
+values:
+  2013-01-01: 0.0
+  2018-01-01: 0.2

policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/qbid/qbid_amount.yaml

@@ -27,12 +27,14 @@
     w2_wages_from_qualified_business: 8_000
     unadjusted_basis_qualified_property: 50_000
     taxable_income_less_qbid: 400_100
+    qualified_reit_and_ptp_income: 1_000
     business_is_sstb: False
     filing_status: JOINT
   output:
-    # Calculation: QBI component is $8,800. REIT component is 0.20 * 1k = $200.
-    # Total = $8,800
-    qbid_amount: 8_800
+    # Calculation: QBI component is $8,800 (same as Entity 1).
+    # REIT/PTP component = 0.20 * 1k = $200.
+    # Total = $8,800 + $200 = $9,000.
+    qbid_amount: 9_000
 
 - name: Non-SSTB above phase-in range (Entity 2 from Appendix A)
   period: 2022
@@ -127,3 +129,73 @@
     # The final taxable income cap (at 24k) is applied at the
     # tax-unit level, outside the scope of this business-level function.
     qbid_amount: 40_000
+
+# REIT/PTP Income Tests - Form 8995 Lines 6-9
+# REIT/PTP income gets 20% deduction WITHOUT W-2 wage or UBIA limitations
+
+- name: REIT/PTP only - no QBI (Form 8995 simplified path)
+  period: 2022
+  input:
+    qualified_business_income: 0
+    w2_wages_from_qualified_business: 0
+    unadjusted_basis_qualified_property: 0
+    taxable_income_less_qbid: 100_000
+    qualified_reit_and_ptp_income: 10_000
+    business_is_sstb: False
+    filing_status: SINGLE
+  output:
+    # No QBI, so QBI component = $0.
+    # REIT/PTP component = 0.20 * 10k = $2,000.
+    # Total = $2,000.
+    qbid_amount: 2_000
+
+- name: REIT/PTP with SSTB - REIT/PTP not affected by SSTB phase-out
+  period: 2022
+  input:
+    qualified_business_income: 110_000
+    w2_wages_from_qualified_business: 60_000
+    unadjusted_basis_qualified_property: 6_000
+    taxable_income_less_qbid: 460_100
+    qualified_reit_and_ptp_income: 50_000
+    business_is_sstb: True
+    filing_status: JOINT
+  output:
+    # SSTB above phase-in range, so QBI component = $0 (fully phased out).
+    # REIT/PTP is NOT subject to SSTB rules, so:
+    # REIT/PTP component = 0.20 * 50k = $10,000.
+    # Total = $0 + $10,000 = $10,000.
+    qbid_amount: 10_000
+
+- name: REIT/PTP above wage limitation - no wage cap applies
+  period: 2022
+  input:
+    qualified_business_income: 0
+    w2_wages_from_qualified_business: 0
+    unadjusted_basis_qualified_property: 0
+    taxable_income_less_qbid: 500_000
+    qualified_reit_and_ptp_income: 100_000
+    business_is_sstb: False
+    filing_status: JOINT
+  output:
+    # No QBI, so QBI component = $0.
+    # Even though taxable income is above threshold and W-2 wages are $0,
+    # REIT/PTP is NOT subject to W-2 wage limitations.
+    # REIT/PTP component = 0.20 * 100k = $20,000.
+    qbid_amount: 20_000
+
+- name: Combined QBI and REIT/PTP - below threshold
+  period: 2024
+  input:
+    qualified_business_income: 50_000
+    w2_wages_from_qualified_business: 30_000
+    unadjusted_basis_qualified_property: 0
+    taxable_income_less_qbid: 150_000
+    qualified_reit_and_ptp_income: 25_000
+    business_is_sstb: False
+    filing_status: SINGLE
+  output:
+    # Below threshold ($191,950 single in 2024), so no W-2/UBIA limit.
+    # QBI component = 0.20 * 50k = $10,000.
+    # REIT/PTP component = 0.20 * 25k = $5,000.
+    # Total = $15,000.
+    qbid_amount: 15_000

policyengine_us/variables/gov/irs/income/taxable_income/deductions/qualified_business_income_deduction/qbid_amount.py

@@ -4,14 +4,13 @@ from policyengine_us.model_api import *
 class qbid_amount(Variable):
     value_type = float
     entity = Person
-    label = (
-        "Per-cap qualified business income deduction amount for each person"
-    )
+    label = "Per-person qualified business income deduction amount"
     unit = USD
     definition_period = YEAR
     reference = (
-        "https://www.law.cornell.edu/uscode/text/26/199A#b_1"
-        "https://www.irs.gov/pub/irs-prior/p535--2018.pdf"
+        "https://www.law.cornell.edu/uscode/text/26/199A#b_1",
+        "https://www.irs.gov/pub/irs-prior/p535--2018.pdf",
+        "https://www.irs.gov/pub/irs-pdf/f8995.pdf",
     )
 
     def formula(person, period, parameters):
@@ -53,4 +52,15 @@ class qbid_amount(Variable):
         )
         line26 = max_(0, adj_qbid_max - reduction)
         line12 = where(adj_cap < adj_qbid_max, line26, 0)
-        return max_(line11, line12)  # Worksheet 12-A, line 13
+        # QBI component (Worksheet 12-A, line 13 / Form 8995 Line 5)
+        qbi_component = max_(line11, line12)
+
+        # REIT/PTP component (Form 8995 Lines 6-9)
+        # Per §199A(b)(1)(B), qualified REIT dividends and qualified PTP income
+        # receive a 20% deduction WITHOUT W-2 wage or UBIA limitations
+        reit_ptp_income = person("qualified_reit_and_ptp_income", period)
+        reit_ptp_component = p.max.reit_ptp_rate * max_(0, reit_ptp_income)
+
+        # Total QBID = QBI component + REIT/PTP component
+        # (Form 8995 Line 10: Add lines 5 and 9)
+        return qbi_component + reit_ptp_component

policyengine_us/variables/household/income/person/dividends/qualified_reit_and_ptp_income.py

@@ -6,7 +6,7 @@ class qualified_reit_and_ptp_income(Variable):
     entity = Person
     label = "REIT and PTP Income"
     unit = USD
-    documentation = "REIT and Publically Traded Partnership Income. Part of the QBID calclulation."
+    documentation = "REIT and Publicly Traded Partnership Income. Part of the QBID calculation."
     definition_period = YEAR
     reference = "https://www.law.cornell.edu/uscode/text/26/1#h_11"
     uprating = "calibration.gov.irs.soi.qualified_dividend_income"

{policyengine_us-1.455.0.dist-info → policyengine_us-1.456.0.dist-info}/METADATA

@@ -1,6 +1,6 @@
 Metadata-Version: 2.4
 Name: policyengine-us
-Version: 1.455.0
+Version: 1.456.0
 Summary: Add your description here.
 Author-email: PolicyEngine <hello@policyengine.org>
 License-File: LICENSE

{policyengine_us-1.455.0.dist-info → policyengine_us-1.456.0.dist-info}/RECORD

@@ -729,6 +729,7 @@ policyengine_us/parameters/gov/irs/deductions/qbi/income_definition.yaml,sha256=
 policyengine_us/parameters/gov/irs/deductions/qbi/deduction_floor/amount.yaml,sha256=CXwummMdhR2MRypqpHlMS2-pYGzs43hxzW9qJ9ywhuQ,578
 policyengine_us/parameters/gov/irs/deductions/qbi/deduction_floor/in_effect.yaml,sha256=Lcmj2iI0_9bQ84pBtMs4tvPSHUyQzxFQAF5NvaA1r9M,372
 policyengine_us/parameters/gov/irs/deductions/qbi/max/rate.yaml,sha256=roMoxlefYwEdD9VdGTiC9OkivmQrwwSUx0CbNSvXpzA,415
+policyengine_us/parameters/gov/irs/deductions/qbi/max/reit_ptp_rate.yaml,sha256=TQ_UbmPc4wR71cKscBmAYozzJ0k13Ogl3lciqbTLSbw,507
 policyengine_us/parameters/gov/irs/deductions/qbi/max/business_property/rate.yaml,sha256=oR27sVH8gGfDQtUx1pG4IGzNCqimmC6SnO6CtF5oK0g,370
 policyengine_us/parameters/gov/irs/deductions/qbi/max/w2_wages/alt_rate.yaml,sha256=blMwSsl2cGk9tUKzwVAYYFoFrkOH2HBFKW62Qjt921I,600
 policyengine_us/parameters/gov/irs/deductions/qbi/max/w2_wages/rate.yaml,sha256=d7jlv_p-zsdryNc-RvGfxNTsE6SbI4STzLDvuM5di-I,335
@@ -3718,7 +3719,7 @@ policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/i
 policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/itemizing/wagering_losses_deduction.yaml,sha256=w_kw5K7GltU67dx1Q-W1o_JvdIF5uiROxlo3fkXqrjA,1622
 policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/overtime_income/overtime_income_deduction.yaml,sha256=Walib9Jo93X4XkqicUXypVdpucueZgdsJptK-VtKl44,1010
 policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/overtime_income/overtime_income_deduction_ssn_requirement_met.yaml,sha256=GD4w8BKLayQyVJ9qBcB0ddetWaAWau0BYP77AEttB8w,1353
-policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/qbid/qbid_amount.yaml,sha256=jUiPA4VHc1yPT3idQnQVxzTig6yV73Zoa4I56oUd-_A,4527
+policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/qbid/qbid_amount.yaml,sha256=IUxjnPdrTILitnWJ5jh_2E4P55bAOm6fMuIQNRq0BMs,6953
 policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/qbid/qualified_business_income.yaml,sha256=4qNyYDGR_o_DBOsSxiHszzqWvt31-jGDKjtjs-5tcCY,1939
 policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/qbid/qualified_business_income_deduction.yaml,sha256=B8G8xmMwlgR2zF1O_4azxIlLNkwJMeKDAnpeVMZJMPo,1492
 policyengine_us/tests/policy/baseline/gov/irs/income/taxable_income/deductions/qbid/taxable_income_less_qbid.yaml,sha256=Cjt-YJ_Hpfnqd0vGHs361h55WqYR0_Te9lGWEf4Lrts,536
@@ -6153,7 +6154,7 @@ policyengine_us/variables/gov/irs/income/taxable_income/deductions/itemizing/tot
 policyengine_us/variables/gov/irs/income/taxable_income/deductions/itemizing/wagering_losses_deduction.py,sha256=EfNKU46fN_z84wh2lr-xyL07msiqJtoha33_YWP64BE,628
 policyengine_us/variables/gov/irs/income/taxable_income/deductions/overtime_income/overtime_income_deduction.py,sha256=nj2R9ywGYT6wZC0TSd3nS0uCgU6-YpkOW10OSXysnUc,984
 policyengine_us/variables/gov/irs/income/taxable_income/deductions/overtime_income/overtime_income_deduction_ssn_requirement_met.py,sha256=oy3WhxjuJAzTeLNCp8-Ol5-NFVvhrs3OLj-gniRRtZM,961
-policyengine_us/variables/gov/irs/income/taxable_income/deductions/qualified_business_income_deduction/qbid_amount.py,sha256=HHAtCsYqazz-jLRcY9mmlZJp_DlGinImKFZHBBVvIE4,2480
+policyengine_us/variables/gov/irs/income/taxable_income/deductions/qualified_business_income_deduction/qbid_amount.py,sha256=Xb-cctuwuc6hb-n4iJOjs17zTnL0my18Dd8n3tUPBAs,3069
 policyengine_us/variables/gov/irs/income/taxable_income/deductions/qualified_business_income_deduction/qualified_business_income.py,sha256=siUYxndY6je2Pm335LLZVevy2FAPlzMBJuex5I4FC3s,823
 policyengine_us/variables/gov/irs/income/taxable_income/deductions/qualified_business_income_deduction/qualified_business_income_deduction.py,sha256=RcCXVvT1GvEFQNOt4f_MtZW9k224_nslXzhG1St6dq0,1477
 policyengine_us/variables/gov/irs/income/taxable_income/deductions/qualified_business_income_deduction/qualified_business_income_deduction_person.py,sha256=wjBgn5j4BuNqNFSzi89rzQEvQUavwoa_LJlGDtQbt9M,1071
@@ -8919,7 +8920,7 @@ policyengine_us/variables/household/income/person/dividends/dividend_income.py,s
 policyengine_us/variables/household/income/person/dividends/non_qualified_dividend_income.py,sha256=6fklBCnmVWUl9-4yBG4TXpGoYna9qsPUQ50UMx2maJI,291
 policyengine_us/variables/household/income/person/dividends/qualified_bdc_income.py,sha256=7V--w6Rp8s7JTDyEYvK0_PU2ZKb1sb6BNn3p3cKpMc8,459
 policyengine_us/variables/household/income/person/dividends/qualified_dividend_income.py,sha256=32xzhjwRYNlJN-Bx2X8RjNfm331WPHSSm5jI_q88W9s,279
-policyengine_us/variables/household/income/person/dividends/qualified_reit_and_ptp_income.py,sha256=Kan9xlpj_2MalqaRysJmERohgEXK6dcKdJIIu6iYSLQ,445
+policyengine_us/variables/household/income/person/dividends/qualified_reit_and_ptp_income.py,sha256=nkWgE5DTLGhe-xMvMp2iAKyn8qevey-PIpAPYBej-_8,442
 policyengine_us/variables/household/income/person/estate/estate_income.py,sha256=76XCBnLX_pmKjmyMxFxmrPEVcFAO9FHMdJA-bsAswSY,188
 policyengine_us/variables/household/income/person/estate/estate_income_would_be_qualified.py,sha256=YWoT4rB7lK27DBlu3XFu0qozax42TD8kIOAa2rbfJyA,404
 policyengine_us/variables/household/income/person/farm/farm_operations_income.py,sha256=IHKJH47b8hoSWXi1xiUd8bosnswBG9O_nHttaowZ35Q,458
@@ -9028,8 +9029,8 @@ 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-1.455.0.dist-info/licenses/LICENSE,sha256=2N5ReRelkdqkR9a-KP-y-shmcD5P62XoYiG-miLTAzo,34519
-policyengine_us-1.455.0.dist-info/RECORD,,
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+policyengine_us-1.456.0.dist-info/licenses/LICENSE,sha256=2N5ReRelkdqkR9a-KP-y-shmcD5P62XoYiG-miLTAzo,34519
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