src/fed2019/Form1116.test.ts

   1 import { Person } from '../core';
   2 import { UnsupportedFeatureError } from '../core/Errors';
   3
   4 import Form1040, { FilingStatus } from './Form1040';
   5 import Form1116, { ForeignIncomeCategory } from './Form1116';
   6 import Form1099B, { GainType } from './Form1099B';
   7 import Form1099DIV from './Form1099DIV';
   8 import Form8949 from './Form8949';
   9 import W2 from './W2';
  10 import TaxReturn from './TaxReturn';
  11 import ScheduleD from './ScheduleD';
  12
  13 test('supported income category', () => {
  14   const p = Person.self('A');
  15   const tr = new TaxReturn();
  16   const f = new Form1116({
  17     person: p,
  18     incomeCategory: ForeignIncomeCategory.C,
  19     posessionName: "RIC",
  20     grossForeignIncome: 100,
  21     totalForeignTaxesPaidOrAccrued: 0
  22   });
  23   tr.addForm(f);
  24   expect(f.getValue(tr, 'category')).toBe(ForeignIncomeCategory.C);
  25 });
  26
  27 test('unsupported income categories', () => {
  28   for (const category of Object.values(ForeignIncomeCategory)) {
  29     if (category == ForeignIncomeCategory.C)
  30       continue;
  31
  32     const p = Person.self('B');
  33     const tr = new TaxReturn();
  34     const f = new Form1116({
  35       person: p,
  36       incomeCategory: category,
  37       posessionName: "RIC",
  38       grossForeignIncome: 100,
  39       totalForeignTaxesPaidOrAccrued: 0
  40     });
  41     tr.addForm(f);
  42     expect(() => f.getValue(tr, 'category')).toThrow(UnsupportedFeatureError);
  43   }
  44 });
  45
  46 test('foreign tax credit', () => {
  47   const p = Person.self('A');
  48   const tr = new TaxReturn();
  49   tr.addForm(new Form1040({
  50     filingStatus: FilingStatus.MarriedFilingJoint
  51   }));
  52   tr.addForm(new W2({
  53     employer: 'ACME',
  54     employee: p,
  55     wages: 697000,
  56   }));
  57
  58   const f = new Form1116({
  59     person: p,
  60     incomeCategory: ForeignIncomeCategory.C,
  61     posessionName: "RIC",
  62     grossForeignIncome: 99,
  63     totalForeignTaxesPaidOrAccrued: 14
  64   });
  65   tr.addForm(f);
  66
  67   expect(f.getValue(tr, '1a')).toBe(99);
  68   expect(f.getValue(tr, '3a')).toBe(24400);
  69   expect(f.getValue(tr, '3c')).toBe(24400);
  70   expect(f.getValue(tr, '3d')).toBe(99);
  71   expect(f.getValue(tr, '3e')).toBe(697000);
  72   expect(f.getValue(tr, '3f')).toBe(0.0001);
  73   expect(f.getValue(tr, '3g')).toBeCloseTo(2.44);
  74   expect(f.getValue(tr, '6')).toBeCloseTo(2.44);
  75   expect(f.getValue(tr, '7')).toBeCloseTo(96.56);
  76   expect(f.getValue(tr, '8')).toBe(14);
  77   expect(f.getValue(tr, '9')).toBe(14);
  78   expect(f.getValue(tr, '14')).toBe(14);
  79   expect(f.getValue(tr, '20')).toBe(((697000-24400) * 0.37) - 61860);
  80   expect(f.getValue(tr, '21')).toBeCloseTo(26.846);
  81   expect(f.getValue(tr, '22')).toBe(14);
  82   expect(f.getValue(tr, '31')).toBe(14);
  83   expect(f.getValue(tr, '33')).toBe(14);
  84 });
  85
  86 test('no net capital losses in total income', () => {
  87   const p = Person.self('A');
  88   const tr = new TaxReturn();
  89   tr.addPerson(p);
  90   tr.addForm(new Form1040({
  91     filingStatus: FilingStatus.MarriedFilingJoint
  92   }));
  93   tr.addForm(new W2({
  94     employer: 'Megacorp',
  95     employee: p,
  96     wages: 200000
  97   }));
  98   tr.addForm(new Form1099B({
  99     payer: 'Brokerage',
 100     payee: p,
 101     description: 'SCHF',
 102     proceeds: 100,
 103     costBasis: 50,
 104     gainType: GainType.LongTerm,
 105     basisReportedToIRS: true
 106   }));
 107   tr.addForm(new Form1099B({
 108     payer: 'Brokerage',
 109     payee: p,
 110     description: 'SCHE',
 111     proceeds: 60,
 112     costBasis: 100,
 113     gainType: GainType.ShortTerm,
 114     basisReportedToIRS: true
 115   }));
 116   tr.addForm(new Form8949);
 117   tr.addForm(new ScheduleD);
 118
 119   const f = new Form1116({
 120     person: p,
 121     incomeCategory: ForeignIncomeCategory.C,
 122     posessionName: 'RIC',
 123     grossForeignIncome: 200,
 124     totalForeignTaxesPaidOrAccrued: 65
 125   });
 126
 127   expect(tr.getForm(Form8949).getValue(tr, 'boxA').gainOrLoss).toBe(-40);
 128   expect(tr.getForm(Form8949).getValue(tr, 'boxD').gainOrLoss).toBe(50);
 129   expect(f.getValue(tr, '3e')).toBe(200050);
 130 });