Parameterize the `2500` value in `AGI` formula
MaxGhenis opened this issue · 1 comments
MaxGhenis commented
The hard-coded 2500
in the AGI
formula here looks like a phase-out start:
Tax-Calculator/taxcalc/calcfunctions.py
Lines 712 to 723 in cf452aa
duncanhobbs commented
It looks like the 2500 is part of the personal exemption phaseout.
From section 151 of the internal revenue code:
For each $2,500 (or fraction thereof) by which the taxpayer’s adjusted gross income for the taxable year exceeds the applicable amount, the personal exemption is reduced by 2 percent.