From 7fbd861da12a4fe1173ec2f2e8206f599874bad8 Mon Sep 17 00:00:00 2001 From: jdebacker Date: Thu, 21 Oct 2021 06:42:06 -0400 Subject: [PATCH 1/2] make CDCC_prt a rate --- taxcalc/policy_current_law.json | 16 ++++++++-------- 1 file changed, 8 insertions(+), 8 deletions(-) diff --git a/taxcalc/policy_current_law.json b/taxcalc/policy_current_law.json index 4024eb5c5..cc6d463b7 100644 --- a/taxcalc/policy_current_law.json +++ b/taxcalc/policy_current_law.json @@ -14063,8 +14063,8 @@ } }, "CDCC_crt": { - "title": "Child & dependent care credit phaseout percentage rate ceiling", - "description": "The maximum percentage rate for the CDCC; this percentage rate decreases as AGI rises above the CDCC_ps level.", + "title": "Child & dependent care credit phaseout rate ceiling", + "description": "The maximum rate for the CDCC; this rate decreases as AGI rises above the CDCC_ps level.", "notes": "", "section_1": "Nonrefundable Credits", "section_2": "Child And Dependent Care", @@ -14097,8 +14097,8 @@ } }, "CDCC_frt": { - "title": "Child & dependent care credit phaseout percentage rate floor", - "description": "The minimum percentage rate for the first AGI phaseout of the CDCC.", + "title": "Child & dependent care credit phaseout rate floor", + "description": "The minimum rate for the first AGI phaseout of the CDCC.", "notes": "", "section_1": "Nonrefundable Credits", "section_2": "Child And Dependent Care", @@ -14123,9 +14123,9 @@ } }, "CDCC_prt": { - "title": "Child & dependent care credit phaseout percentage rate", - "description": "The CDCC credit rate is reduced by this many percentage points for each dollary of AGI over the phase-out thresholds.", - "notes": "In the law, the credit rate is reduced by 1 percentage point for every $2,000 of AGI over the limit.", + "title": "Child & dependent care credit phaseout rate", + "description": "The CDCC credit rate is reduced by this many percentage points for each dollar of AGI over the phase-out thresholds.", + "notes": "In the law, the credit rate is reduced by 1 percentage point for every $2,000 of AGI over the limit. 0.01 / 2000 = 0.000005", "section_1": "Nonrefundable Credits", "section_2": "Child And Dependent Care", "indexable": false, @@ -14134,7 +14134,7 @@ "value": [ { "year": 2013, - "value": 0.0005 + "value": 5e-06 } ], "validators": { From b4b174930085ca091ccf1db31bbf02485e75ac39 Mon Sep 17 00:00:00 2001 From: jdebacker Date: Thu, 21 Oct 2021 06:42:35 -0400 Subject: [PATCH 2/2] update F2441 docstring --- taxcalc/calcfunctions.py | 13 +++++++++++-- 1 file changed, 11 insertions(+), 2 deletions(-) diff --git a/taxcalc/calcfunctions.py b/taxcalc/calcfunctions.py index d4df6f8f7..c57de0b72 100644 --- a/taxcalc/calcfunctions.py +++ b/taxcalc/calcfunctions.py @@ -2119,15 +2119,23 @@ def F2441(MARS, earned_p, earned_s, f2441, CDCC_c, e32800, c00100: float Adjusted Gross Income (AGI) CDCC_ps: float - Child/dependent care credit phaseout start + Child/dependent care credit first phaseout start + CDCC_ps2: float + Child/dependent care credit second phaseout start CDCC_crt: float - Child/dependent care credit phaseout percentage rate ceiling + Child/dependent care credit phaseout rate ceiling + CDCC_frt: float + Child/dependent care credit phaseout rate floor + CDCC_prt: float + Child/dependent care credit phaseout rate c05800: float Total (regular + AMT) income tax liability before credits e07300: float Foreign tax credit from Form 1116 c07180: float Credit for child and dependent care expenses from Form 2441 + CDCC_refund: bool + Indicator for whether CDCC is refundable Returns ------- @@ -2159,6 +2167,7 @@ def F2441(MARS, earned_p, earned_s, f2441, CDCC_c, e32800, if c00100 > CDCC_ps2: crate = max(0., CDCC_frt - max(((c00100 - CDCC_ps2) * CDCC_prt), 0.)) + c33200 = c33000 * crate # credit is limited by tax liability if not refundable if CDCC_refundable: