diff --git a/python/src/com/jetbrains/python/formatter/PyBlock.java b/python/src/com/jetbrains/python/formatter/PyBlock.java
index ddeeb34472b5..3941f0a83f80 100644
--- a/python/src/com/jetbrains/python/formatter/PyBlock.java
+++ b/python/src/com/jetbrains/python/formatter/PyBlock.java
@@ -22,6 +22,7 @@ import com.intellij.openapi.util.Key;
 import com.intellij.openapi.util.TextRange;
 import com.intellij.psi.*;
 import com.intellij.psi.codeStyle.CodeStyleSettingsManager;
+import com.intellij.psi.codeStyle.CommonCodeStyleSettings;
 import com.intellij.psi.impl.source.tree.TreeUtil;
 import com.intellij.psi.tree.IElementType;
 import com.intellij.psi.tree.TokenSet;
@@ -683,20 +684,25 @@ public class PyBlock implements ASTBlock {
   public Spacing getSpacing(Block child1, @NotNull Block child2) {
     if (child1 instanceof ASTBlock && child2 instanceof ASTBlock) {
       final ASTNode node1 = ((ASTBlock)child1).getNode();
+      final ASTNode node2 = ((ASTBlock)child2).getNode();
       final PsiElement psi1 = node1.getPsi();
       final PsiElement psi2 = ((ASTBlock)child2).getNode().getPsi();
+
+      final IElementType childType1 = node1.getElementType();
+      final IElementType childType2 = node2.getElementType();
       if (psi1 instanceof PyImportStatementBase && psi2 instanceof PyImportStatementBase &&
           psi2.getCopyableUserData(IMPORT_GROUP_BEGIN) != null) {
         return Spacing.createSpacing(0, 0, 2, true, 1);
       }
 
-      if (node1.getElementType() == PyTokenTypes.COLON && psi2 instanceof PyStatementList) {
+      final CommonCodeStyleSettings settings = myContext.getSettings();
+      if (childType1 == PyTokenTypes.COLON && psi2 instanceof PyStatementList) {
         if (needLineBreakInStatement()) {
-          return Spacing.createSpacing(0, 0, 1, true, myContext.getSettings().KEEP_BLANK_LINES_IN_CODE);
+          return Spacing.createSpacing(0, 0, 1, true, settings.KEEP_BLANK_LINES_IN_CODE);
         }
       }
 
-      if ((node1.getElementType() == PyElementTypes.FUNCTION_DECLARATION || node1.getElementType() == PyElementTypes.CLASS_DECLARATION)
+      if ((childType1 == PyElementTypes.FUNCTION_DECLARATION || childType1 == PyElementTypes.CLASS_DECLARATION)
           && myNode.getElementType() instanceof PyFileElementType) {
 
         if (psi2 instanceof PsiComment) {
@@ -712,6 +718,14 @@ public class PyBlock implements ASTBlock {
         }
       }
 
+      if (myNode.getElementType() == PyElementTypes.DICT_LITERAL_EXPRESSION) {
+        if (shouldInsertNewLineForBrace(childType1) || shouldInsertNewLineForBrace(childType2)) {
+          final int spaces = settings.SPACE_WITHIN_BRACES ? 1 : 0;
+          return Spacing.createDependentLFSpacing(spaces, spaces, myNode.getTextRange(),
+                                                  settings.KEEP_LINE_BREAKS, settings.KEEP_BLANK_LINES_IN_CODE);
+        }
+      }
+
       if (psi2 instanceof PsiComment && !hasLineBreaksBefore(psi2.getNode(), 1) && myContext.getPySettings().SPACE_BEFORE_NUMBER_SIGN) {
         return Spacing.createSpacing(2, 0, 0, false, 0);
       }
@@ -719,6 +733,11 @@ public class PyBlock implements ASTBlock {
     return myContext.getSpacingBuilder().getSpacing(this, child1, child2);
   }
 
+  private boolean shouldInsertNewLineForBrace(IElementType type) {
+    return (type == PyTokenTypes.LBRACE && myContext.getPySettings().DICT_NEW_LINE_AFTER_LEFT_BRACE) ||
+           (type == PyTokenTypes.RBRACE && myContext.getPySettings().DICT_NEW_LINE_BEFORE_RIGHT_BRACE);
+  }
+
   private Spacing getBlankLinesForOption(final int option) {
     final int blankLines = option + 1;
     return Spacing
diff --git a/python/src/com/jetbrains/python/formatter/PyCodeStyleSettings.java b/python/src/com/jetbrains/python/formatter/PyCodeStyleSettings.java
index 20bd954930ed..e1d3a5f511be 100644
--- a/python/src/com/jetbrains/python/formatter/PyCodeStyleSettings.java
+++ b/python/src/com/jetbrains/python/formatter/PyCodeStyleSettings.java
@@ -74,7 +74,8 @@ public class PyCodeStyleSettings extends CustomCodeStyleSettings {
 
   public int DICT_ALIGNMENT = DICT_ALIGNMENT_NONE;
   public int DICT_WRAPPING = WrapType.NORMAL.getLegacyRepresentation();
-
+  public boolean DICT_NEW_LINE_AFTER_LEFT_BRACE = false;
+  public boolean DICT_NEW_LINE_BEFORE_RIGHT_BRACE = false;
 
   public PyCodeStyleSettings(CodeStyleSettings container) {
     super("Python", container);
diff --git a/python/src/com/jetbrains/python/formatter/PyLanguageCodeStyleSettingsProvider.java b/python/src/com/jetbrains/python/formatter/PyLanguageCodeStyleSettingsProvider.java
index 3cc41a5db282..7313919150d5 100644
--- a/python/src/com/jetbrains/python/formatter/PyLanguageCodeStyleSettingsProvider.java
+++ b/python/src/com/jetbrains/python/formatter/PyLanguageCodeStyleSettingsProvider.java
@@ -104,6 +104,8 @@ public class PyLanguageCodeStyleSettingsProvider extends LanguageCodeStyleSettin
       consumer.showCustomOption(PyCodeStyleSettings.class, "ALIGN_MULTILINE_IMPORTS", "Align when multiline",
                                 "Import Statements");
       consumer.showCustomOption(PyCodeStyleSettings.class, "DICT_WRAPPING", "Dictionary literals", null, WRAP_OPTIONS, WRAP_VALUES);
+      consumer.showCustomOption(PyCodeStyleSettings.class, "DICT_NEW_LINE_AFTER_LEFT_BRACE", "New line after '{'", "Dictionary literals");
+      consumer.showCustomOption(PyCodeStyleSettings.class, "DICT_NEW_LINE_BEFORE_RIGHT_BRACE", "Place '}' on new line", "Dictionary literals");
     }
   }
 
diff --git a/python/testData/formatter/forceNewLineAfterLeftBraceInDict.py b/python/testData/formatter/forceNewLineAfterLeftBraceInDict.py
new file mode 100644
index 000000000000..4ff13fec5d01
--- /dev/null
+++ b/python/testData/formatter/forceNewLineAfterLeftBraceInDict.py
@@ -0,0 +1,9 @@
+d1 = {'a': 1,
+      'b': 2}
+
+d2 = {'a': 1, 'b': 2}
+
+d3 = {
+    'a': 1,
+    'b': 2
+}
diff --git a/python/testData/formatter/forceNewLineAfterLeftBraceInDict_after.py b/python/testData/formatter/forceNewLineAfterLeftBraceInDict_after.py
new file mode 100644
index 000000000000..b255c322a248
--- /dev/null
+++ b/python/testData/formatter/forceNewLineAfterLeftBraceInDict_after.py
@@ -0,0 +1,10 @@
+d1 = {
+    'a': 1,
+    'b': 2}
+
+d2 = {'a': 1, 'b': 2}
+
+d3 = {
+    'a': 1,
+    'b': 2
+}
diff --git a/python/testData/formatter/forceNewLineBeforeRightBraceInDict.py b/python/testData/formatter/forceNewLineBeforeRightBraceInDict.py
new file mode 100644
index 000000000000..4ff13fec5d01
--- /dev/null
+++ b/python/testData/formatter/forceNewLineBeforeRightBraceInDict.py
@@ -0,0 +1,9 @@
+d1 = {'a': 1,
+      'b': 2}
+
+d2 = {'a': 1, 'b': 2}
+
+d3 = {
+    'a': 1,
+    'b': 2
+}
diff --git a/python/testData/formatter/forceNewLineBeforeRightBraceInDict_after.py b/python/testData/formatter/forceNewLineBeforeRightBraceInDict_after.py
new file mode 100644
index 000000000000..51222d3853de
--- /dev/null
+++ b/python/testData/formatter/forceNewLineBeforeRightBraceInDict_after.py
@@ -0,0 +1,10 @@
+d1 = {'a': 1,
+      'b': 2
+      }
+
+d2 = {'a': 1, 'b': 2}
+
+d3 = {
+    'a': 1,
+    'b': 2
+}
diff --git a/python/testSrc/com/jetbrains/python/PyFormatterTest.java b/python/testSrc/com/jetbrains/python/PyFormatterTest.java
index 50ce134e5819..27d847bf2353 100644
--- a/python/testSrc/com/jetbrains/python/PyFormatterTest.java
+++ b/python/testSrc/com/jetbrains/python/PyFormatterTest.java
@@ -587,6 +587,18 @@ public class PyFormatterTest extends PyTestCase {
     doTest();
   }
 
+  // PY-14962
+  public void testForceNewLineAfterLeftBraceInDict() {
+    getCustomSettings().DICT_NEW_LINE_AFTER_LEFT_BRACE = true;
+    doTest();
+  }
+
+  // PY-14962
+  public void testForceNewLineBeforeRightBraceInDict() {
+    getCustomSettings().DICT_NEW_LINE_BEFORE_RIGHT_BRACE = true;
+    doTest();
+  }
+
   // PY-15530
   public void testAlignmentInArgumentListWhereFirstArgumentIsEmptyCall() {
     doTest();