Medical Exp limitation in 2014. Then no adjusmtne for AMT?

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  • #188051
    ykim32
    Participant

    I know that Medical expense has 10% limitation of AGI in 2014. Should we apply 10% limitation on the REG exam from this window(From July~)? Then, there is no adjustment for AMT about Medical expense from 2014?

    I think that this is going to be a big difference from all of previous practice questions.

    I really appreciate it if you could confirm for me. Thank you.

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  • #588867
    Ineedsomesun
    Member

    I think I read that the 3rd and 4th quarter exams are the new rules and the 1st and 2nd quarter are prior year. So yes, there would be no adjustment for medical unless taxpayer is 65.

    FAR - 78, FEB2014,
    REG - 82, MAY2014
    BEC - 79, JULY2014
    AUD - 68, 86, MAY2015 (ALL DONE!!!)

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