src/fed2021/TaxReturn.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 { default as TaxReturn_2020, Constants as Constants_2020 } from '../fed2020/TaxReturn';
   7
   8 import { FilingStatus } from '.';
   9
  10 // Rev. Proc 2020-45: https://www.irs.gov/pub/irs-drop/rp-20-45.pdf
  11 export const Constants = {
  12   ...Constants_2020,
  13
  14   taxBrackets: {
  15     [FilingStatus.MarriedFilingJoint]: [
  16       [ 19_900, 0.10, 0 ],
  17       [ 81_050, 0.12, 1_990 ],
  18       [ 172_750, 0.22, 9_328 ],
  19       [ 329_850, 0.24, 29_502 ],
  20       [ 418_850, 0.32, 67_206 ],
  21       [ 628_300, 0.35, 95_686 ],
  22       [ Infinity, 0.37, 168_993.50 ]
  23     ],
  24     [FilingStatus.Single]: [
  25       [ 9_950, 0.10, 0 ],
  26       [ 40_525, 0.12, 995 ],
  27       [ 86_375 , 0.22, 4_664 ],
  28       [ 164_925, 0.24, 14_751 ],
  29       [ 209_425, 0.32, 33_603 ],
  30       [ 523_600, 0.35, 47_843 ],
  31       [ Infinity, 0.37, 157_804.25 ]
  32     ],
  33     [FilingStatus.MarriedFilingSeparate]: [
  34       [ 9_950, 0.10, 0 ],
  35       [ 40_525, 0.12, 995 ],
  36       [ 86_375, 0.22, 4_664 ],
  37       [ 164_925, 0.24, 14_751 ],
  38       [ 209_425, 0.32, 33_603 ],
  39       [ 314_150, 0.35, 47_843 ],
  40       [ Infinity, 0.37, 84_496.75 ]
  41     ],
  42   },
  43
  44   standardDeduction: {
  45     [FilingStatus.MarriedFilingJoint]: 25_100,
  46     [FilingStatus.Single]: 12_550,
  47     [FilingStatus.MarriedFilingSeparate]: 12_550,
  48   },
  49
  50   capitalGains: {
  51     rate0MaxIncome: {
  52       [FilingStatus.MarriedFilingJoint]: 80_800,
  53       [FilingStatus.Single]: 40_400,
  54       [FilingStatus.MarriedFilingSeparate]: 40_400,
  55     },
  56     rate15MaxIncome: {
  57       [FilingStatus.MarriedFilingJoint]: 501_600,
  58       [FilingStatus.MarriedFilingSeparate]: 250_800,
  59       [FilingStatus.Single]: 445_850,
  60     },
  61   },
  62
  63   qualifiedBusinessIncomeDeductionThreshold: {
  64     [FilingStatus.MarriedFilingJoint]: 329_800,
  65     [FilingStatus.MarriedFilingSeparate]: 164_925,
  66     [FilingStatus.Single]: 164_900,
  67   },
  68
  69   amt: {
  70     exemption: {
  71       [FilingStatus.MarriedFilingJoint]: 114_600,
  72       [FilingStatus.Single]: 73_600,
  73       [FilingStatus.MarriedFilingSeparate]: 57_300,
  74     },
  75     phaseout: {
  76       [FilingStatus.MarriedFilingJoint]: 1_047_200,
  77       [FilingStatus.Single]: 523_600,
  78       [FilingStatus.MarriedFilingSeparate]: 523_600,
  79     },
  80     limitForRate28Percent: {
  81       [FilingStatus.MarriedFilingJoint]: 199_900,
  82       [FilingStatus.Single]: 199_900,
  83       [FilingStatus.MarriedFilingSeparate]: 99_950,
  84     },
  85   },
  86
  87   prevYearStandardDeduction: Constants_2020.standardDeduction,
  88 };
  89
  90 export default class TaxReturn extends TaxReturn_2020 {
  91   readonly constants = Constants;
  92
  93   get year() { return 2021; }
  94 }