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Rename interest_expense to deductible_interest_expense #5582

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Feb 13, 2025
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Rename interest_expense to deductible_interest_expense #5582

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4 changes: 4 additions & 0 deletions changelog_entry.yaml
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@@ -0,0 +1,4 @@
- bump: minor
changes:
added:
- Rename interest_expense to deductible_interest_expense.
2 changes: 1 addition & 1 deletion policyengine_us/tests/policy/baseline/gov/irs/credits/cdcc/integration.yaml
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Expand Up @@ -64,7 +64,7 @@
non_qualified_dividend_income: 1_010
taxable_pension_income: 4_000
real_estate_taxes: 24_000
interest_expense: 2_000
deductible_interest_expense: 2_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
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2 changes: 1 addition & 1 deletion policyengine_us/tests/policy/baseline/gov/irs/credits/ctc/integration.yaml
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Expand Up @@ -247,7 +247,7 @@
taxable_interest_income: 10_000
non_qualified_dividend_income: 15_000
social_security: 18_000
interest_expense: 25_000
deductible_interest_expense: 25_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
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4 changes: 2 additions & 2 deletions policyengine_us/tests/policy/baseline/gov/irs/integration/us_itemize.yaml
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Expand Up @@ -7,7 +7,7 @@
is_tax_unit_head: true
age: 40
employment_income: 100_000
interest_expense: 12_000
deductible_interest_expense: 12_000
real_estate_taxes: 11_000
spm_units:
spm_unit:
Expand Down Expand Up @@ -36,7 +36,7 @@
is_tax_unit_head: true
age: 40
employment_income: 100_000
interest_expense: 8_000
deductible_interest_expense: 8_000
real_estate_taxes: 6_000
spm_units:
spm_unit:
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4 changes: 2 additions & 2 deletions policyengine_us/tests/policy/baseline/gov/irs/tax/federal_income/validation.yaml
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Expand Up @@ -12,7 +12,7 @@
non_qualified_dividend_income: 15_000
social_security: 18_000
# rent: 15_000 # not used in federal income tax calculations
interest_expense: 25_000
deductible_interest_expense: 25_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
Expand Down Expand Up @@ -100,7 +100,7 @@
non_qualified_dividend_income: 15_000
social_security: 18_000
# rent: 15_000 # not used in federal income tax calculations
interest_expense: 25_000
deductible_interest_expense: 25_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
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2 changes: 1 addition & 1 deletion policyengine_us/tests/policy/baseline/gov/states/ia/tax/income/ia_integration.yaml
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Expand Up @@ -314,7 +314,7 @@
employment_income: 144_010
social_security: 4_500
real_estate_taxes: 24_000
interest_expense: 4_000
deductible_interest_expense: 4_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
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2 changes: 1 addition & 1 deletion policyengine_us/tests/policy/baseline/gov/states/md/tax/income/integration_md.yaml
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Expand Up @@ -81,7 +81,7 @@
age: 40
taxable_interest_income: 200_000
real_estate_taxes: 12_000
interest_expense: 24_000
deductible_interest_expense: 24_000
spm_units:
spm_unit:
members: [person1]
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2 changes: 1 addition & 1 deletion ...policy/baseline/gov/states/mo/tax/income/credits/property_tax/mo_property_tax_credit.yaml
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Expand Up @@ -9,7 +9,7 @@
employment_income: 10_010
social_security: 1_000
real_estate_taxes: 22_000
interest_expense: 30_000
deductible_interest_expense: 30_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
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4 changes: 2 additions & 2 deletions ..._us/tests/policy/baseline/gov/states/ne/tax/income/deductions/ne_itemized_deductions.yaml
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Expand Up @@ -3,7 +3,7 @@
input:
filing_status: JOINT
charitable_deduction: 2_000
interest_expense: 24_000
deductible_interest_expense: 24_000
salt_deduction: 10_000
real_estate_taxes: 9_000
state_code: NE
Expand All @@ -15,7 +15,7 @@
input:
filing_status: JOINT
charitable_deduction: 3_000
interest_expense: 7_000
deductible_interest_expense: 7_000
salt_deduction: 10_000
real_estate_taxes: 6_000
state_code: NE
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4 changes: 2 additions & 2 deletions policyengine_us/tests/policy/baseline/gov/states/ok/tax/income/ok_itemized_deductions.yaml
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Expand Up @@ -3,7 +3,7 @@
input:
filing_status: JOINT
charitable_deduction: 2_000
interest_expense: 24_000
deductible_interest_expense: 24_000
salt_deduction: 10_000
real_estate_taxes: 9_000
state_code: OK
Expand All @@ -15,7 +15,7 @@
input:
filing_status: JOINT
charitable_deduction: 3_000
interest_expense: 7_000
deductible_interest_expense: 7_000
salt_deduction: 10_000
real_estate_taxes: 6_000
state_code: OK
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2 changes: 1 addition & 1 deletion policyengine_us/tests/policy/baseline/gov/states/ok/tax/income/ok_taxable_income.yaml
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Expand Up @@ -44,7 +44,7 @@
age: 51
employment_income: 145_010
social_security: 15_000
interest_expense: 6_000
deductible_interest_expense: 6_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
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8 changes: 4 additions & 4 deletions policyengine_us/tests/policy/baseline/gov/states/pa/tax/income/pa_income_tax.yaml
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Expand Up @@ -9,7 +9,7 @@
employment_income: 20_000
social_security: 24_000
real_estate_taxes: 8_000
interest_expense: 10_000
deductible_interest_expense: 10_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
Expand Down Expand Up @@ -73,7 +73,7 @@
taxable_pension_income: 12_000
social_security: 3_000
real_estate_taxes: 23_000
interest_expense: 25_000
deductible_interest_expense: 25_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
Expand Down Expand Up @@ -126,7 +126,7 @@
taxable_interest_income: 5_010
social_security: 24_000
real_estate_taxes: 23_000
interest_expense: 17_000
deductible_interest_expense: 17_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
Expand Down Expand Up @@ -189,7 +189,7 @@
taxable_interest_income: 5_010
social_security: 24_000
real_estate_taxes: 23_000
interest_expense: 17_000
deductible_interest_expense: 17_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
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2 changes: 1 addition & 1 deletion policyengine_us/tests/policy/contrib/taxsim/misc/qualified_dividends.yaml
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Expand Up @@ -11,7 +11,7 @@
taxable_interest_income: 3_000
social_security: 20_000
real_estate_taxes: 8_000
interest_expense: 2_000
deductible_interest_expense: 2_000
ssi: 0 # not in TAXSIM35
state_supplement: 0 # not in TAXSIM35
wic: 0 # not in TAXSIM35
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2 changes: 1 addition & 1 deletion ...ine_us/variables/gov/irs/income/taxable_income/deductions/itemizing/interest_deduction.py
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Expand Up @@ -10,4 +10,4 @@ class interest_deduction(Variable):
definition_period = YEAR
reference = "https://www.law.cornell.edu/uscode/text/26/163"

adds = ["interest_expense"]
adds = ["deductible_interest_expense"]
2 changes: 1 addition & 1 deletion ...sehold/expense/person/interest_expense.py → ...nse/person/deductible_interest_expense.py
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@@ -1,7 +1,7 @@
from policyengine_us.model_api import *


class interest_expense(Variable):
class deductible_interest_expense(Variable):
value_type = float
entity = Person
label = "Interest paid on all loans"
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