src/fed2019/Form1116.test.ts

   1 import { Person, TaxReturn } 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 FormW2 from './FormW2';
  10 import ScheduleD from './ScheduleD';
  11
  12 test('supported income category', () => {
  13   const p = Person.self('A');
  14   const tr = new TaxReturn(2019);
  15   const f = new Form1116({
  16     person: p,
  17     incomeCategory: ForeignIncomeCategory.C,
  18     posessionName: "RIC",
  19     grossForeignIncome: 100,
  20     totalForeignTaxesPaidOrAccrued: 0
  21   });
  22   tr.addForm(f);
  23   expect(f.getValue(tr, 'category')).toBe(ForeignIncomeCategory.C);
  24 });
  25
  26 test('unsupported income categories', () => {
  27   for (const category of Object.values(ForeignIncomeCategory)) {
  28     if (category == ForeignIncomeCategory.C)
  29       continue;
  30
  31     const p = Person.self('B');
  32     const tr = new TaxReturn(2019);
  33     const f = new Form1116({
  34       person: p,
  35       incomeCategory: category,
  36       posessionName: "RIC",
  37       grossForeignIncome: 100,
  38       totalForeignTaxesPaidOrAccrued: 0
  39     });
  40     tr.addForm(f);
  41     expect(() => f.getValue(tr, 'category')).toThrow(UnsupportedFeatureError);
  42   }
  43 });
  44
  45 test('foreign tax credit', () => {
  46   const p = Person.self('A');
  47   const tr = new TaxReturn(2019);
  48   tr.addForm(new Form1040({
  49     filingStatus: FilingStatus.MarriedFilingJoint
  50   }));
  51   tr.addForm(new FormW2({
  52     employer: 'ACME',
  53     employee: p,
  54     wages: 697000,
  55   }));
  56
  57   const f = new Form1116({
  58     person: p,
  59     incomeCategory: ForeignIncomeCategory.C,
  60     posessionName: "RIC",
  61     grossForeignIncome: 99,
  62     totalForeignTaxesPaidOrAccrued: 14
  63   });
  64   tr.addForm(f);
  65
  66   expect(f.getValue(tr, '1a')).toBe(99);
  67   expect(f.getValue(tr, '3a')).toBe(24400);
  68   expect(f.getValue(tr, '3c')).toBe(24400);
  69   expect(f.getValue(tr, '3d')).toBe(99);
  70   expect(f.getValue(tr, '3e')).toBe(697000);
  71   expect(f.getValue(tr, '3f')).toBe(0.0001);
  72   expect(f.getValue(tr, '3g')).toBeCloseTo(2.44);
  73   expect(f.getValue(tr, '6')).toBeCloseTo(2.44);
  74   expect(f.getValue(tr, '7')).toBeCloseTo(96.56);
  75   expect(f.getValue(tr, '8')).toBe(14);
  76   expect(f.getValue(tr, '9')).toBe(14);
  77   expect(f.getValue(tr, '14')).toBe(14);
  78   expect(f.getValue(tr, '20')).toBe(((697000-24400) * 0.37) - 61860);
  79   expect(f.getValue(tr, '21')).toBeCloseTo(26.846);
  80   expect(f.getValue(tr, '22')).toBe(14);
  81   expect(f.getValue(tr, '31')).toBe(14);
  82   expect(f.getValue(tr, '33')).toBe(14);
  83 });
  84
  85 test('no net capital losses in total income', () => {
  86   const p = Person.self('A');
  87   const tr = new TaxReturn(2019);
  88   tr.addForm(new Form1040({
  89     filingStatus: FilingStatus.MarriedFilingJoint
  90   }));
  91   tr.addForm(new FormW2({
  92     employer: 'Megacorp',
  93     employee: p,
  94     wages: 200000
  95   }));
  96   tr.addForm(new Form1099B({
  97     payer: 'Brokerage',
  98     payee: p,
  99     description: 'SCHF',
 100     proceeds: 100,
 101     costBasis: 50,
 102     gainType: GainType.LongTerm,
 103     basisReportedToIRS: true
 104   }));
 105   tr.addForm(new Form1099B({
 106     payer: 'Brokerage',
 107     payee: p,
 108     description: 'SCHE',
 109     proceeds: 60,
 110     costBasis: 100,
 111     gainType: GainType.ShortTerm,
 112     basisReportedToIRS: true
 113   }));
 114   tr.addForm(new Form8949);
 115   tr.addForm(new ScheduleD);
 116
 117   const f = new Form1116({
 118     person: p,
 119     incomeCategory: ForeignIncomeCategory.C,
 120     posessionName: 'RIC',
 121     grossForeignIncome: 200,
 122     totalForeignTaxesPaidOrAccrued: 65
 123   });
 124
 125   expect(tr.getForm(Form8949).getValue(tr, 'boxA').gainOrLoss).toBe(-40);
 126   expect(tr.getForm(Form8949).getValue(tr, 'boxD').gainOrLoss).toBe(50);
 127   expect(f.getValue(tr, '3e')).toBe(200050);
 128 });