June 19, 2020 at 11:24 pm #3030606
What tax forms should I know well in order to succeed on the REG Simulations? I would appreciate any advice.June 22, 2020 at 2:55 pm #3032424jdParticipant
Tax forms are important but I wouldn't say they are more important than knowing basic fundamentals being tested on, such as differences between above-the-line and below-the-line deductions, pass-through basis, due-dates (with and without extension), and estimated payments. I wouldn't go too far to memorize every possible form just the simple ones.June 22, 2020 at 4:34 pm #3032466
Thanks a lot jd! I worry about the simulation because AICPA likes to give a lot of information that is irrelevant and when I am not familiar with the different types of documentation, I spend a lot of time trying to figure out what is relevant and what is not .. I had really bad experience with simulations from FAR, AUD and BEC.June 22, 2020 at 7:38 pm #3032631vbmerParticipant
JD is spot on. If the forms help you learn where specific deductions and adjustments go, use them to your advantage, but it's not necessary to memorize the forms inside and out.June 23, 2020 at 1:22 pm #3033321
Thank you! I will follow your advice.