In CPS for 2011 onward, the topcode tables (here) indicate that “income values greater than or equal to swap value were systematically swapped with other topcoded cases.” However, for many income variables (INCASIST, INCCHILD, etc), there are both topcoded values in the data (that is, there are values equal to “99997” or “999997,” respectively) as well as values greater than the topcode/swap value.
For instance, for INCASIST in 2011, the topcode/swap value is $30,000. But in the data - I’m using ASEC - there are many observations with INCASIST values greater than 30,000 (which indicates that values were “swapped,” as indicated on the topcode table page) AND there are observations with the top-code “99997.” When were the codes “99997” applied, rather than swap values? What am I supposed to do with observations that have the “99997” code? This problem seems to occur across a whole range of income variables, and for all years 2011 and onward.