From 79efdcc74b35c0c831b6eafe698813e1940e636d Mon Sep 17 00:00:00 2001 From: srilareddy Date: Wed, 16 Oct 2024 16:09:50 +0000 Subject: [PATCH 1/9] Mortgage Interest Deduction 2018-2025 (TCJA) --- .../gov/irs/deductions/itemized/interest/mortgage/cap.yaml | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml index 2f371e152fd..6171f48a51e 100644 --- a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml +++ b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml @@ -2,9 +2,9 @@ description: IRS limits the total home mortgage interest deduction to this amoun SINGLE: 2018-01-01: 1_000_000 JOINT: - 2018-01-01: 1_000_000 + 2018-01-01: 750_000 SEPARATE: - 2018-01-01: 500_000 + 2018-01-01: 350_000 HEAD_OF_HOUSEHOLD: 2018-01-01: 1_000_000 SURVIVING_SPOUSE: From 1023f7cb129978f33d7ded8dc871819360445927 Mon Sep 17 00:00:00 2001 From: srilareddy Date: Thu, 17 Oct 2024 04:49:22 +0000 Subject: [PATCH 2/9] Updated references --- .../gov/irs/deductions/itemized/interest/mortgage/cap.yaml | 3 +++ 1 file changed, 3 insertions(+) diff --git a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml index 6171f48a51e..8451b140891 100644 --- a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml +++ b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml @@ -19,3 +19,6 @@ metadata: href: https://files.hawaii.gov/tax/legal/hrs/hrs_235.pdf#page=10 - title: 26 U.S. Code § 163 - Interest, (h)(3)(F) href: https://www.law.cornell.edu/uscode/text/26/163 + - title: Tax Cuts and Jobs Act, 131 STAT. 2086, SEC. 11043, (a)(F)(ii) + href: https://www.congress.gov/115/statute/STATUTE-131/STATUTE-131-Pg2054.pdf + \ No newline at end of file From 1c24226a7e927f6df8d6f459be04af7d597db59e Mon Sep 17 00:00:00 2001 From: srilareddy Date: Tue, 22 Oct 2024 00:31:41 +0000 Subject: [PATCH 3/9] Updated limits --- .../itemized/interest/mortgage/cap.yaml | 26 ++++++++++++++----- 1 file changed, 19 insertions(+), 7 deletions(-) diff --git a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml index 8451b140891..4b8285d4e97 100644 --- a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml +++ b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml @@ -1,14 +1,27 @@ description: IRS limits the total home mortgage interest deduction to this amount, based on filing status. +# Debt incurred before December 16, 2017 SINGLE: - 2018-01-01: 1_000_000 + 2017-12-16: 1_000_000 +JOINT: + 2017-12-16: 1_000_000 +SEPARATE: + 2017-12-16: 500_000 +HEAD_OF_HOUSEHOLD: + 2017-12-16: 1_000_000 +SURVIVING_SPOUSE: + 2017-12-16: 1_000_000 + +# Debt incurred after December 16, 2017 +SINGLE: + 2018-01-01: 750_000 JOINT: 2018-01-01: 750_000 SEPARATE: - 2018-01-01: 350_000 + 2018-01-01: 375_000 HEAD_OF_HOUSEHOLD: - 2018-01-01: 1_000_000 + 2018-01-01: 750_000 SURVIVING_SPOUSE: - 2018-01-01: 1_000_000 + 2018-01-01: 750_000 metadata: breakdown: filing_status unit: currency-USD @@ -17,8 +30,7 @@ metadata: # Hawaii applies this AGI threshold in the state itemized deductions computation - title: Hawaii Income Tax Law, Chapter 235, Section 235-2.4, (j)(3) href: https://files.hawaii.gov/tax/legal/hrs/hrs_235.pdf#page=10 - - title: 26 U.S. Code § 163 - Interest, (h)(3)(F) + - title: 26 U.S. Code § 163 - Interest, (h)(3)(F) href: https://www.law.cornell.edu/uscode/text/26/163 - title: Tax Cuts and Jobs Act, 131 STAT. 2086, SEC. 11043, (a)(F)(ii) - href: https://www.congress.gov/115/statute/STATUTE-131/STATUTE-131-Pg2054.pdf - \ No newline at end of file + href: https://www.congress.gov/115/statute/STATUTE-131/STATUTE-131-Pg2054.pdf#page=2054 \ No newline at end of file From 11e4157c1e05bf9ec0d808aa150aca089ae3979b Mon Sep 17 00:00:00 2001 From: srilareddy Date: Tue, 22 Oct 2024 21:26:00 +0000 Subject: [PATCH 4/9] format --- .../itemized/interest/mortgage/cap.yaml | 16 ++++------------ 1 file changed, 4 insertions(+), 12 deletions(-) diff --git a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml index 4b8285d4e97..93db6a454a2 100644 --- a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml +++ b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml @@ -1,26 +1,18 @@ description: IRS limits the total home mortgage interest deduction to this amount, based on filing status. -# Debt incurred before December 16, 2017 SINGLE: 2017-12-16: 1_000_000 -JOINT: - 2017-12-16: 1_000_000 -SEPARATE: - 2017-12-16: 500_000 -HEAD_OF_HOUSEHOLD: - 2017-12-16: 1_000_000 -SURVIVING_SPOUSE: - 2017-12-16: 1_000_000 - -# Debt incurred after December 16, 2017 -SINGLE: 2018-01-01: 750_000 JOINT: + 2017-12-16: 1_000_000 2018-01-01: 750_000 SEPARATE: + 2017-12-16: 500_000 2018-01-01: 375_000 HEAD_OF_HOUSEHOLD: + 2017-12-16: 1_000_000 2018-01-01: 750_000 SURVIVING_SPOUSE: + 2017-12-16: 1_000_000 2018-01-01: 750_000 metadata: breakdown: filing_status From 5a404306c8e39424e56d777372f6790966402b05 Mon Sep 17 00:00:00 2001 From: srilareddy Date: Wed, 30 Oct 2024 13:05:08 +0000 Subject: [PATCH 5/9] Updated reference --- .../gov/irs/deductions/itemized/interest/mortgage/cap.yaml | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml index 93db6a454a2..8b17108d13c 100644 --- a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml +++ b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml @@ -22,7 +22,7 @@ metadata: # Hawaii applies this AGI threshold in the state itemized deductions computation - title: Hawaii Income Tax Law, Chapter 235, Section 235-2.4, (j)(3) href: https://files.hawaii.gov/tax/legal/hrs/hrs_235.pdf#page=10 - - title: 26 U.S. Code § 163 - Interest, (h)(3)(F) + - title: 26 U.S. Code § 163 - Interest, (h) href: https://www.law.cornell.edu/uscode/text/26/163 - title: Tax Cuts and Jobs Act, 131 STAT. 2086, SEC. 11043, (a)(F)(ii) href: https://www.congress.gov/115/statute/STATUTE-131/STATUTE-131-Pg2054.pdf#page=2054 \ No newline at end of file From c40fba637e79f9cb638ecac0ab11a7790503d76b Mon Sep 17 00:00:00 2001 From: srilareddy Date: Wed, 30 Oct 2024 13:14:00 +0000 Subject: [PATCH 6/9] change log --- changelog_entry.yaml | 5 +++++ 1 file changed, 5 insertions(+) diff --git a/changelog_entry.yaml b/changelog_entry.yaml index e69de29bb2d..06ab4b2aaac 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -0,0 +1,5 @@ +Change log +- bump: minor + changes: + - Revised home mortgage interest deduction limits for pre-2017 debt. + - Updated references. \ No newline at end of file From 997ba9898fa8fb45293df68e48322a308a349515 Mon Sep 17 00:00:00 2001 From: srilareddy Date: Mon, 4 Nov 2024 11:35:11 +0000 Subject: [PATCH 7/9] Change log edit --- changelog_entry.yaml | 3 +-- 1 file changed, 1 insertion(+), 2 deletions(-) diff --git a/changelog_entry.yaml b/changelog_entry.yaml index 06ab4b2aaac..8f4741c58e1 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -1,5 +1,4 @@ Change log - bump: minor changes: - - Revised home mortgage interest deduction limits for pre-2017 debt. - - Updated references. \ No newline at end of file + - Revised home mortgage interest deduction limits for pre-2017 debt. \ No newline at end of file From 7d7c2e153facc9f654b2b2c893d9be3d70327dab Mon Sep 17 00:00:00 2001 From: srilareddy Date: Mon, 4 Nov 2024 17:16:03 +0000 Subject: [PATCH 8/9] fixed change log --- changelog_entry.yaml | 4 ++-- .../gov/irs/deductions/itemized/interest/mortgage/cap.yaml | 2 +- 2 files changed, 3 insertions(+), 3 deletions(-) diff --git a/changelog_entry.yaml b/changelog_entry.yaml index 8f4741c58e1..5a413e198a8 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -1,4 +1,4 @@ -Change log - bump: minor changes: - - Revised home mortgage interest deduction limits for pre-2017 debt. \ No newline at end of file + fixed: + - Revised home mortgage interest deduction limits for pre-2017 debt. diff --git a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml index 8b17108d13c..d4d109cff7f 100644 --- a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml +++ b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml @@ -25,4 +25,4 @@ metadata: - title: 26 U.S. Code § 163 - Interest, (h) href: https://www.law.cornell.edu/uscode/text/26/163 - title: Tax Cuts and Jobs Act, 131 STAT. 2086, SEC. 11043, (a)(F)(ii) - href: https://www.congress.gov/115/statute/STATUTE-131/STATUTE-131-Pg2054.pdf#page=2054 \ No newline at end of file + href: https://www.congress.gov/115/statute/STATUTE-131/STATUTE-131-Pg2054.pdf#page=2054 From 2e3e5fadd70adc8a0b11bb76a7db9f20ca279c79 Mon Sep 17 00:00:00 2001 From: srilareddy Date: Tue, 5 Nov 2024 15:31:23 +0000 Subject: [PATCH 9/9] change log --- changelog_entry.yaml | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/changelog_entry.yaml b/changelog_entry.yaml index 5a413e198a8..a31ffa83f57 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -1,4 +1,4 @@ - bump: minor changes: - fixed: - - Revised home mortgage interest deduction limits for pre-2017 debt. + fixed: + - Revised home mortgage interest deduction limits for pre-2017 debt.