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Nonrefundable credit for dependents #1069
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Current coverage is 98.76% (diff: 100%)@@ master #1069 diff @@
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@codykallen, I don't understand why the new dependent credit is computed in the |
@martinholmer |
@codykallen said:
OK, I see your thought process. But yes, I think it would be a big improvement to move the calculation of this new dependent credit to the |
@martinholmer |
@codykallen, Thanks. Moving the calculation of the new dependent credit into the
All this looks good after a quick glance except for the first if-else statement. There is one inelegance and one problem with this:
The inelegance is that we already have a calculated variable called
But more importantly, there is a substantive problem here. This code will produce negative |
@martinholmer |
@codykallen, Thanks for that code correction, so now we don't calculate any negative credits.
Why not simplify to the following code?
Sometimes it really helps to use if-else statements in the function.py code, but I don't think is one of those cases. |
@codykallen, Thanks for your contribution in #1069. I'm merging it now. |
Per the Ryan-Brady plan, this is structured to phase-out as though added to the Child Tax Credit. For example, for a head of household with one child, the $1000 CTC would phase out between $75k and $95k, and the additional $500 dependent credit would phase out at the same rate between $95k and $105k. For a head of household with two children, the $2000 CTC would phase out between $75k and $115k, and the $1000 of dependent credit would phase out between $115k and $135k.
I used the existing parameters for the Child Tax Credit because that is the structure of this credit. Alternatively, we could add a phase-out rate and threshold specific to this credit, but implementation of the Ryan-Brady plan would require setting these parameters to the same as those for the CTC.
This pull request resolves the second part of issue #1068
@MattHJensen @martinholmer @andersonfrailey @GoFroggyRun @feenberg @Amy-Xu