diff --git a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml index 2f371e152fd..93db6a454a2 100644 --- a/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml +++ b/policyengine_us/parameters/gov/irs/deductions/itemized/interest/mortgage/cap.yaml @@ -1,14 +1,19 @@ description: IRS limits the total home mortgage interest deduction to this amount, based on filing status. SINGLE: - 2018-01-01: 1_000_000 + 2017-12-16: 1_000_000 + 2018-01-01: 750_000 JOINT: - 2018-01-01: 1_000_000 + 2017-12-16: 1_000_000 + 2018-01-01: 750_000 SEPARATE: - 2018-01-01: 500_000 + 2017-12-16: 500_000 + 2018-01-01: 375_000 HEAD_OF_HOUSEHOLD: - 2018-01-01: 1_000_000 + 2017-12-16: 1_000_000 + 2018-01-01: 750_000 SURVIVING_SPOUSE: - 2018-01-01: 1_000_000 + 2017-12-16: 1_000_000 + 2018-01-01: 750_000 metadata: breakdown: filing_status unit: currency-USD @@ -17,5 +22,7 @@ metadata: # Hawaii applies this AGI threshold in the state itemized deductions computation - title: Hawaii Income Tax Law, Chapter 235, Section 235-2.4, (j)(3) href: https://files.hawaii.gov/tax/legal/hrs/hrs_235.pdf#page=10 - - title: 26 U.S. Code § 163 - Interest, (h)(3)(F) + - title: 26 U.S. Code § 163 - Interest, (h)(3)(F) href: https://www.law.cornell.edu/uscode/text/26/163 + - title: Tax Cuts and Jobs Act, 131 STAT. 2086, SEC. 11043, (a)(F)(ii) + href: https://www.congress.gov/115/statute/STATUTE-131/STATUTE-131-Pg2054.pdf#page=2054 \ No newline at end of file