Add 2024 forms.

Author: davidcmoore

2023/example_joint_return.py

@@ -4,9 +4,7 @@
 # of 100k. Also, the first spouse has some investment income and
 # business (Schedule C) income.
 #
-# A balance is owed on the return.
-#
-# On the state return, a refund is due.
+# Refunds are due on both returns.
 #
 
 from f1040 import F1040

2023/example_joint_return_amt.py

@@ -4,12 +4,15 @@
 # of 100k. Also, the first spouse has some investment income and
 # business (Schedule C) income.
 #
-# This example increases the amount of state tax paid on Schedule A, causing
+# This example includes exercise of some ISOs that cause
 # this couple to be paying AMT instead of regular tax. Form 6251 is added.
 #
-# A balance is owed on the return.
+# If this is not the latest tax year, this will also generate part of Form
+# 8801 for the following year which is needed for the AMT credit.
 #
-# On the state return, a refund is due.
+# We compute CA state AMT, but it ends up being zero in this case.
+#
+# Refunds are due on both returns.
 #
 
 from f1040 import F1040
@@ -22,17 +25,17 @@
 inputs = {
     'status': FilingStatus.JOINT,
     'exemptions': 2,
-    'wages':             [120000.00, 120000.00], # W2 box 1
-    'withholding':                    42000.00,  # W2 box 2
-    'wages_ss':          [120000.00, 120000.00], # W2 box 3
+    'wages':             [100000.00, 100000.00], # W2 box 1
+    'withholding':                    37000.00,  # W2 box 2
+    'wages_ss':          [100000.00, 100000.00], # W2 box 3
     'ss_withheld':       [  6200.00,   6200.00], # W2 box 4
-    'wages_medicare':    [120000.00, 120000.00], # W2 box 5
+    'wages_medicare':    [100000.00, 100000.00], # W2 box 5
     'medicare_withheld': [  1450.00,   1450.00], # W2 box 6
-    'state_withholding':              20000.00,  # W2 box 17
+    'state_withholding':              18000.00,  # W2 box 17
 
     # These are other state tax payments made in the tax year not included in
     # 'state_withholding' that are deductible on schedule A:
-    'extra_state_tax_payments': 8000.00,
+    'extra_state_tax_payments': 3000.00,
 
     'taxable_interest':    1500.00,
     'tax_exempt_interest':  700.00,
@@ -46,6 +49,14 @@
     'F1040sa' : {
                  '11' : 500, # charitable contributions
                 },
+
+    # Exercise of ISOs
+    'F6251' : {
+                '2i' : 50000, # Excess of AMT income over regular income
+              },
+    'CA540sp' : {
+                  '10' : 50000,
+                },
 }
 
 f = F1040(inputs)

2023/example_marginal_rates_joint.py

@@ -19,7 +19,8 @@
 
 template = {
     'status': FilingStatus.JOINT,
-    'exemptions': 2,
+    'exemptions': 4,
+    'qualifying_children': 2,
     'disable_rounding': True,
 }
 
@@ -38,15 +39,15 @@ def compute_with_income(template, income, capital_gains):
     return F1040(inputs)
 
 
-max_income = 700000
+max_income = 950000
 step = 1000
 inc = 10
 
 incomes = []
 rates = []
 capgain_rates = []
 
-for x in range(0, max_income, step):
+for x in range(70000, max_income, step):
     fbase = compute_with_income(template, x/2, 0)
     fnext = compute_with_income(template, (x + inc) / 2, 0)
     fcapgain = compute_with_income(template, x/2, inc)

2023/f1040.py

@@ -6,7 +6,7 @@
 from f6251 import F6251
 from f8606 import F8606
 from f8801 import F8801
-#from f8801_2024 import F8801_2024
+from f8801_2024 import F8801_2024
 from f8812 import F8812
 from f8959 import F8959
 from f8960 import F8960
@@ -152,6 +152,9 @@ def __init__(f, inputs={}):
         if foreign_tax:
             f['s3_1'] = foreign_tax
 
+        # TODO: The second instance of sd passed to F6251 is refigured for AMT.
+        # If you have a different basis in AMT for some Schedule D items, that
+        # copy should be different.
         f6251 = F6251(inputs, f, sa if sa.mustFile() else None, sd, sd)
         f.comment['s2_1'] = 'AMT'
         f['s2_1'] = f6251.get('11')
@@ -250,8 +253,8 @@ def __init__(f, inputs={}):
             f.comment['37'] = 'Amount you owe'
             f['37'] = f['24'] - f['33']
 
-        #f8801_2024 = F8801_2024(inputs, f, f6251, f8801, sd)
-        #f.addForm(f8801_2024)
+        f8801_2024 = F8801_2024(inputs, f, f6251, f8801, sd)
+        f.addForm(f8801_2024)
 
     def div_cap_gain_tax_worksheet(f, inputs, sched_d):
         w = {}

2023/f8801_2024.py

@@ -0,0 +1,90 @@
+from form import Form, FilingStatus
+
+class F8801_2024(Form):
+    """Form 8801, Credit for Prior Year Minimum Tax
+
+    This form is for 2024, but since it depends on values
+    from 2023, it is generated along with 2023's
+    forms. Line 21 from this form must be manually entered into
+    2024's inputs dictionary.
+    """
+    def __init__(f, inputs, f1040, f6251, f8801, sched_d):
+        super(F8801_2024, f).__init__(inputs)
+        f['1'] = f6251.rowsum(['1', '2e'])
+        f['2'] = f6251.rowsum(['2a', '2b', '2c', '2d', '2g', '2h'])
+        # TODO: Line 3, minimum tax credit net operating loss deduction
+        f['4'] = max(0, f['1'] + f['2'] + f['3'])
+        assert(inputs['status'] != FilingStatus.SEPARATE or f['4'] <= 831150)
+        f.comment['15'] = 'Net minimum tax on exclusion items'
+        if f['4'] == 0:
+            f['15'] = 0
+        else:
+            f['5'] = f6251.EXEMPTIONS[inputs['status']]
+            f['6'] = f6251.EXEMPT_LIMITS[inputs['status']]
+            f['7'] = max(0, f['4'] - f['6'])
+            f['8'] = f['7'] * 0.25
+            f['9'] = max(0, f['5'] - f['8'])
+            f['10'] = max(0, f['4'] - f['9'])
+            if f['10'] == 0:
+                f['15'] = 0
+            else:
+                # TODO: form 2555
+                if (f1040['7'] and not sched_d.mustFile()) or f1040['3a'] or \
+                        (sched_d['15'] > 0 and sched_d['16'] > 0):
+                    f['27'] = f.get('10')
+                    # TODO: Schedule D tax worksheet
+                    assert(not sched_d['18'] and not sched_d['19'])
+                    cg_worksheet = f1040.div_cap_gain_tax_worksheet(inputs,
+                                                                    sched_d)
+                    f['28'] = cg_worksheet['4']
+                    f['30'] = f.get('28')
+                    f['31'] = min(f['27'], f['30'])
+                    f['32'] = f['27'] - f['31']
+                    f['33'] = f6251.amt(inputs['status'], f['32'])
+                    f['34'] = f1040.CAPGAIN15_LIMITS[inputs['status']]
+                    f['35'] = cg_worksheet['5']
+                    f['36'] = max(0, f['34'] - f['35'])
+                    f['37'] = min(f['27'], f['28'])
+                    f['38'] = min(f['36'], f['37'])
+                    f['39'] = f['37'] - f['38']
+                    f['40'] = f1040.CAPGAIN20_LIMITS[inputs['status']]
+                    f['41'] = f.get('36')
+                    f['42'] = cg_worksheet['5']
+                    f['43'] = f.rowsum(['41', '42'])
+                    f['44'] = max(0, f['40'] - f['43'])
+                    f['45'] = min(f['39'], f['44'])
+                    f['46'] = f['45'] * .15
+                    f['47'] = f.rowsum(['38', '45'])
+                    if f['47'] != f['27']:
+                        f['48'] = f['37'] - f['47']
+                        f['49'] = f['48'] * .20
+                        if f['29']:
+                            f['50'] = f.rowsum(['32', '47', '48'])
+                            f['51'] = f['27'] - f['50']
+                            f['52'] = f['51'] * .25
+                    f['53'] = f.rowsum(['33', '46', '49', '52'])
+                    f['54'] = f6251.amt(inputs['status'], f['27'])
+                    f['55'] = min(f['53'], f['54'])
+                    f['11'] = f['55']
+                else:
+                    f['11'] = f6251.amt(inputs['status'], f['10'])
+                # TODO: Form 1116
+                f['12'] = f1040.get('s3_1')
+                f.comment['13'] = 'Tentative minimum tax on exclusion items'
+                f['13'] = f['11'] - f['12']
+                f['14'] = f6251.get('10')
+                f.comment['15'] = 'Net minimum tax on exclusion items'
+                f['15'] = max(0, f['13'] - f['14'])
+
+        f['16'] = f6251.get('11')
+        f['17'] = f.get('15')
+        f['18'] = f['16'] - f['17']
+        f.comment['19'] = '2023 credit carryforward'
+        f['19'] = f8801.get('26')
+        f.comment['21'] = 'Accum. credit (enter in 2024 inputs as \'prior_amt_credit\')'
+        f['21'] = max(0, f['18'] + f['19'] + f['20'])
+        if f['21']:
+            f.must_file = True
+
+    def title(self):
+        return 'Form 8801 (for 2024 filing)'

2023/f8812.py

@@ -18,7 +18,10 @@ def __init__(f, inputs, f1040):
             f['9'] = 400000
         else:
             f['9'] = 200000
-        f['10'] = math.ceil(max(0, f['3'] - f['9']) / 1000.0) * 1000
+        if f.disable_rounding:
+            f['10'] = max(0, f['3'] - f['9'])
+        else:
+            f['10'] = math.ceil(max(0, f['3'] - f['9']) / 1000.0) * 1000
         f['11'] = f['10'] * .05
         f['12'] = max(0, f['8'] - f['11'])
 

2024/ca540.py

@@ -0,0 +1,135 @@
+from form import Form, FilingStatus
+from f1040 import F1040
+from ca540sca import CA540sca
+from ca540sp import CA540sp
+import math
+
+class CA540(Form):
+    EXEMPTION = 149
+    DEPENDENT_EXEMPTION = 461
+    BRACKET_RATES = [.01, .02, .04, .06, .08, .093, .103, .113, .123]
+    BRACKET_LIMITS = [
+        [10756, 25499, 40245, 55866, 70606, 360659, 432787, 721314],  # SINGLE
+        [21512, 50998, 80490, 111732, 141212, 721318, 865574, 1442628],# JOINT
+        [10756, 25499, 40245, 55866, 70606, 360659, 432787, 721314],  # SEPARATE
+        [21527, 51000, 65744, 81364, 96107, 490493, 588593, 980987],  # HEAD
+        [21512, 50998, 80490, 111732, 141212, 721318, 865574, 1442628],# WIDOW
+    ]
+    MENTAL_HEALTH_LIMIT = 1000000
+    MENTAL_HEALTH_RATE = .01
+
+    def __init__(f, inputs, f1040):
+        super(CA540, f).__init__(inputs)
+        f.must_file = True
+        f.addForm(f)
+
+        for i in f1040.forms:
+            if i.__class__.__name__ == 'F1040sa':
+                f1040sa = i
+
+        if inputs['status'] in [FilingStatus.JOINT, FilingStatus.WIDOW]:
+            personal = 2
+        else:
+            personal = 1
+
+        f['7'] = personal * f.EXEMPTION
+        # TODO: blind or senior
+        f['10'] = (inputs['exemptions'] - personal) * f.DEPENDENT_EXEMPTION
+        f['11'] = f.rowsum(['7', '8', '9', '10'])
+
+        # Line 12 is just informational. Leave it out of our computations.
+        f.comment['13'] = 'Federal AGI'
+        f['13'] = f1040['11']
+        sca = f.addForm(CA540sca(inputs, f1040, f1040sa))
+        f['14'] = sca['1C_B27']
+        f['15'] = f['13'] - f['14']
+        f['16'] = sca['1C_C27']
+        f.comment['17'] = 'CA AGI'
+        f['17'] = f['15'] + f['16']
+        f['18'] = sca['2_30']
+        f.comment['19'] = 'Taxable income'
+        f['19'] = max(0, f['17'] - f['18'])
+
+        f.comment['31'] = 'Tax'
+        f['31'] = f.tax_rate_schedule(inputs['status'], f['19'])
+        f['32'] = f.agi_limitation_worksheet(inputs['status'])
+        f['33'] = max(0, f['31'] - f['32'])
+        f['35'] = f['33'] + f['34']
+
+        f['47'] = f.rowsum(['40', '43', '44', '45', '46'])
+        f['48'] = max(0, f['35'] - f['47'])
+
+        sp = f.addForm(CA540sp(inputs, f, sca, f1040, f1040sa))
+        f['61'] = sp.get('26')
+        f.comment['61'] = 'AMT'
+
+        if f['19'] > f.MENTAL_HEALTH_LIMIT:
+            f['62'] = (f['19'] - f.MENTAL_HEALTH_LIMIT) * f.MENTAL_HEALTH_RATE
+        f.comment['64'] = 'Total tax'
+        f['64'] = f.rowsum(['48', '61', '62', '63'])
+
+        f['71'] = inputs.get('state_withholding')
+        f['72'] = inputs.get('state_estimated_payments')
+        # TODO: real estate withholding
+
+        f.comment['78'] = 'Total payments'
+        f['78'] = f.rowsum(['71', '72', '73', '75', '76', '77'])
+
+        if f['78'] > f['91']:
+            f['93'] = f['78'] - f['91']
+        else:
+            f['94'] = f['91'] - f['78']
+
+        if f['93'] > f['92']:
+            f['95'] = f['93'] - f['92']
+        else:
+            f['96'] = f['92'] - f['93']
+
+        if f['95'] > f['64']:
+            f.comment['97'] = 'Refund'
+            f['97'] = f['95'] - f['64']
+        else:
+            f.comment['100'] = 'Tax due'
+            f['100'] = f['64'] - f['95']
+        f.comment['111'] = 'Amount you owe'
+        f['111'] = f.rowsum(['94', '96', '100', '110'])
+
+    @classmethod
+    def tax_rate_schedule(f, status, val):
+        # TODO: rounding of amounts less than 100000 to match tax table
+        tax = 0
+        prev = 0
+        i = 0
+        for lim in f.BRACKET_LIMITS[status]:
+            if val <= lim:
+                break
+            tax += f.BRACKET_RATES[i] * (lim - prev)
+            prev = lim
+            i += 1
+        tax += f.BRACKET_RATES[i] * (val - prev)
+        return tax
+
+    def agi_limitation_worksheet(f, status):
+        LIMITS = [244857, 489719, 244857, 367291, 489719]
+        w = {}
+        w['a'] = f['13']
+        w['b'] = LIMITS[status]
+        if w['a'] <= w['b']:
+            return f['11']
+        w['c'] = w['a'] - w['b']
+        divisor = 1250.00 if status == FilingStatus.SEPARATE else 2500.00
+        w['d'] = math.ceil(w['c'] / divisor)
+        w['e'] = w['d'] * 6
+        w['f'] = (f['7'] + f['8'] + f['9']) / f.EXEMPTION
+        w['g'] = w['e'] * w['f']
+        w['h'] = f['7'] + f['8'] + f['9']
+        w['i'] = max(0, w['h'] - w['g'])
+        w['j'] = f['10'] / f.DEPENDENT_EXEMPTION
+        w['k'] = w['e'] * w['j']
+        w['l'] = f['10']
+        w['m'] = max(0, w['l'] - w['k'])
+        w['n'] = w['i'] + w['m']
+        return w['n']
+
+    def title(f):
+        return 'CA Form 540'