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Update SOI long-term capital gains target to 2023 #8440

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Update SOI long-term capital gains target to 2023 #8440

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9 changes: 5 additions & 4 deletions policyengine_us/parameters/calibration/gov/irs/soi/long_term_capital_gains.yaml
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Original file line number Diff line number Diff line change
@@ -1,11 +1,12 @@
description: Total long-term capital gains.
values:
2015-01-01: 713_598_090_000
2020-01-01: 1_137_020_477_000
2015-01-01: 733_313_255_000
2020-01-01: 1_063_500_316_000
2023-01-01: 971_279_947_000
metadata:
unit: currency-USD
label: SOI long-term capital gains
uprating: calibration.gov.cbo.income_by_source.net_capital_gain
reference:
- title: IRS SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income
href: https://www.irs.gov/statistics/soi-tax-stats-individual-statistical-tables-by-size-of-adjusted-gross-income
- title: IRS SOI Tax Stats - Publication 1304 Table 1.4A
href: https://www.irs.gov/statistics/soi-tax-stats-individual-income-tax-returns-complete-report-publication-1304-basic-tables-part-1
21 changes: 21 additions & 0 deletions policyengine_us/tests/test_parameter_files.py
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Original file line number Diff line number Diff line change
Expand Up @@ -5,6 +5,14 @@


PARAMETERS_DIR = Path(__file__).resolve().parents[1] / "parameters"
SOI_LONG_TERM_CAPITAL_GAINS_PATH = (
PARAMETERS_DIR / "calibration/gov/irs/soi/long_term_capital_gains.yaml"
)
SOI_LONG_TERM_CAPITAL_GAINS_ANCHORS = {
date(2015, 1, 1): 733_313_255_000,
date(2020, 1, 1): 1_063_500_316_000,
date(2023, 1, 1): 971_279_947_000,
}
PARAMETER_SCHEMA_KEYS = {
"brackets",
"description",
Expand Down Expand Up @@ -126,3 +134,16 @@ def test_enum_breakdown_parameters_do_not_have_single_member_tables():
errors.extend(_enum_breakdown_parameter_errors(path, data))

assert errors == []


def test_soi_long_term_capital_gains_uses_latest_publication_1304_anchor():
parameter = yaml.safe_load(SOI_LONG_TERM_CAPITAL_GAINS_PATH.read_text())
values = parameter["values"]

for period, value in SOI_LONG_TERM_CAPITAL_GAINS_ANCHORS.items():
assert values[period] == value

assert max(values) >= date(2023, 1, 1)
assert parameter["metadata"]["reference"][0]["href"].endswith(
"publication-1304-basic-tables-part-1"
)
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