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Fix Arkansas capital gain loss cap parameter values #4443

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martinholmer opened this issue Apr 23, 2024 · 0 comments · Fixed by #4467
Closed

Fix Arkansas capital gain loss cap parameter values #4443

martinholmer opened this issue Apr 23, 2024 · 0 comments · Fixed by #4467
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bug Something isn't working states/ar Arkansas tax Federal and state tax policy

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@martinholmer
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The 2021 AR1000D form says this in RED:

Screenshot 2024-04-23 at 3 45 42 PM

.
.

But the following loss_cap.yaml file has different values:

description: Arkansas taxes the capital gain loss up to this amount, based on filing status.
metadata:
unit: currency-USD
period: year
breakdown:
- filing_status
label: Arkansas long-term capital gains tax loss cap
reference:
# The loss threshold is not defined in the legal code
- title: Arkansas Code Title 26. Taxation § 26-51-815. Capital gains and losses
href: https://codes.findlaw.com/ar/title-26-taxation/ar-code-sect-26-51-815.html
- title: Arkansas 2021 AR1000D
href: https://www.dfa.arkansas.gov/images/uploads/incomeTaxOffice/2021_AR1000D_CapitalGains.pdf#page=1
- title: Arkansas 2022 AR1000D
href: https://www.dfa.arkansas.gov/images/uploads/incomeTaxOffice/2022_AR1000D_CapitalGains.pdf#page=1
- title: Arkansas 2023 AR1000D
href: https://www.taxformfinder.org/forms/2023/2023-arkansas-form-ar1000d.pdf#page=1
JOINT:
# $3,000 total if filing jointly
2021-01-01: 1_500
HEAD_OF_HOUSEHOLD:
2021-01-01: 1_500
SURVIVING_SPOUSE:
2021-01-01: 1_500
SINGLE:
2021-01-01: 1_500
SEPARATE:
2021-01-01: 1_500

.
.
As a result, Policyengine-US 0.749.1 fails the following simple unit test:

- name: AR taxable capital gains unit test 2
  absolute_error_margin: 0.01
  period: 2021
  input:
    filing_status: SINGLE
    long_term_capital_gains: -4_000
    state_fips: 5  # AR
  output:  # expected results from filing out 2021 AR1000D form
    ar_taxable_capital_gains: -3_000
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Labels
bug Something isn't working states/ar Arkansas tax Federal and state tax policy
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