[Anonymous]

Ok, so I am finishing up Chapter 2 of REG through Becker right now (itemized deductions, adjustments, individual taxation, etc). I know in the videos they keep saying how I don’t need to know the specific $ amounts for phaseouts. For those of you that have experience with REG, did you find this to be true? I don’t want to waste my time remembering dollar amounts and such if I don’t need to (considering that they change all the time anyway due to inflation and such), but then again don’t want to be blindsided when it comes to test day and find myself totally lost.

Thanks!

[y_u_no_pass]

Yeah. I think there were a couple of SIMs where you had to look up specific dollar amounts. But generally you don't need to know them

Florida CPA!
Took final exam 2/25/15.
Sent in Application 3/12/15.
Issued License 3/20/15.
Used CPA Excel solely for all exams.

[hunter32]

Seems like the Mom&Pop is the main one to really know.

BEC - 80 (Becker)
AUD - 92 (Becker+NINJA MCQ)
FAR - 87 (Becker+NINJA MCQ)
REG - 90 (Becker+NINJA MCQ and Audio)

[Anonymous]

Does it bother anyone else that Becker tells you the phaseouts aren't important… yet half of the homework problems have to do with phaseouts!!

[Yukkeko]

I think there are maybe 2-3 really important ones (tim gearty will tell you), all others – pointless don't bother to even try to remember

AUD - 99
BEC - 92
FAR - 97
REG - 94

Accounting

FAR (4/14/14) - 97
REG (11/17/14) - 94
BEC (11/30/14) - 92
AUD (2/28/15) - 99
TEARS!

[Anonymous]

I don't recall having to know phaseouts on the exam. I would recommend knowing AGI limitations, e.g. 10% floor for casualty losses, less $100 for each casualty event. Sometimes a question will tell you to disregard those limits, but you don't want to get caught with a Sim that requires you to include AGI limits in your calculations if you have no idea what they are.

As for phaseouts, the mom & pop exception for passive activity losses, the Social Security tax phaseout, and the phaseouts related to eligibility for deductible IRAs are the only ones I even recall seeing in homework/practice MCQs.

[nika_cpa]

do not memorize them. They usually do not appear on the actual exam. And if they do appear on SIMS you can always research and find them in AL.

Becker self-study, Wiley Test Bank and books, Becker final review. NINJA MCQ bank and NINJA notes for BEC only!

AUD - PASSED!
FAR - PASSED!
REG - PASSED!
BEC - PASSED!

[Author]

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