src/fed2019/Form1098.test.ts

   1 // Copyright 2021 Blue Static <https://www.bluestatic.org>
   2 // This program is free software licensed under the GNU General Public License,
   3 // version 3.0. The full text of the license can be found in LICENSE.txt.
   4 // SPDX-License-Identifier: GPL-3.0-only
   5
   6 import { Person } from '../core';
   7
   8 import Form1040, { FilingStatus } from './Form1040';
   9 import { Form1098, MortgageInterestDeductionWorksheet } from './Form1098';
  10 import TaxReturn from './TaxReturn';
  11
  12 test('grandfathered debt', () => {
  13   const p = Person.self('A');
  14   const tr = new TaxReturn();
  15   tr.addPerson(p);
  16   tr.addForm(new Form1040({
  17     filingStatus: FilingStatus.MarriedFilingJoint,
  18   }));
  19   tr.addForm(new Form1098({
  20     recipient: 'Bank',
  21     payee: p,
  22     mortgageInterestReceived: 20_000,
  23     outstandingMortgagePrincipal: 2_000_000,
  24     mortgageOriginationDate: new Date('1980-01-02'),
  25   }));
  26   const ws = new MortgageInterestDeductionWorksheet();
  27   tr.addForm(ws);
  28
  29   expect(ws.getValue(tr, '1')).toBe(2_000_000);
  30   expect(ws.getValue(tr, '2')).toBe(0);
  31   expect(ws.getValue(tr, '5')).toBe(2_000_000);
  32   expect(ws.getValue(tr, '7')).toBe(0);
  33   expect(ws.getValue(tr, '11')).toBe(2_000_000);
  34   expect(ws.deductibleMortgateInterest(tr)).toBe(20_000);
  35 });
  36
  37 test('pre-limitation debt', () => {
  38   const p = Person.self('A');
  39   const tr = new TaxReturn();
  40   tr.addPerson(p);
  41   tr.addForm(new Form1040({
  42     filingStatus: FilingStatus.MarriedFilingJoint,
  43   }));
  44   tr.addForm(new Form1098({
  45     recipient: 'Bank',
  46     payee: p,
  47     mortgageInterestReceived: 20_000,
  48     outstandingMortgagePrincipal: 2_000_000,
  49     mortgageOriginationDate: new Date('2010-01-02'),
  50   }));
  51   const ws = new MortgageInterestDeductionWorksheet();
  52   tr.addForm(ws);
  53
  54   expect(ws.getValue(tr, '1')).toBe(0);
  55   expect(ws.getValue(tr, '2')).toBe(2_000_000);
  56   expect(ws.getValue(tr, '5')).toBe(2_000_000);
  57   expect(ws.getValue(tr, '7')).toBe(0);
  58   expect(ws.getValue(tr, '11')).toBe(1_000_000);
  59   expect(ws.getValue(tr, '14')).toBe(0.5);
  60   expect(ws.getValue(tr, '15')).toBe(10_000);
  61   expect(ws.deductibleMortgateInterest(tr)).toBe(10_000);
  62 });
  63
  64 test('limited debt', () => {
  65   const p = Person.self('A');
  66   const tr = new TaxReturn();
  67   tr.addPerson(p);
  68   tr.addForm(new Form1040({
  69     filingStatus: FilingStatus.MarriedFilingJoint,
  70   }));
  71   tr.addForm(new Form1098({
  72     recipient: 'Bank',
  73     payee: p,
  74     mortgageInterestReceived: 20_000,
  75     outstandingMortgagePrincipal: 2_000_000,
  76     mortgageOriginationDate: new Date('2020-01-02'),
  77   }));
  78   const ws = new MortgageInterestDeductionWorksheet();
  79   tr.addForm(ws);
  80
  81   expect(ws.getValue(tr, '1')).toBe(0);
  82   expect(ws.getValue(tr, '2')).toBe(0);
  83   expect(ws.getValue(tr, '5')).toBe(0);
  84   expect(ws.getValue(tr, '7')).toBe(2_000_000);
  85   expect(ws.getValue(tr, '11')).toBe(750_000);
  86   expect(ws.getValue(tr, '14')).toBe(0.375);
  87   expect(ws.getValue(tr, '15')).toBe(7_500);
  88   expect(ws.deductibleMortgateInterest(tr)).toBe(7_500);
  89 });