Gleim's 10% medical deductible

  • Creator
    Topic
  • #2051075
    Jodie
    Participant

    Hi,
    Anyone using Gleim 2018 Edition for REG? The material is using 10% deductible in medical expenses (schedule A), but the real 2017 return is back to 7.5% from previous 10%. Am I right? So confused.
    Anyone took REG and did you come across any question on medical expense deduction? Do you remember whether the exam use 10 or 7.5? Please help!

    thanks,
    Jodie

    Better Late Than Never!

     

Viewing 6 replies - 1 through 6 (of 6 total)
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    Replies
  • #2051201
    Mae
    Participant

    They will include it in the question this year.

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    REG - 91
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    #2052644
    alloverit
    Participant

    7.5% for TYs 2017 & 2018…then back to 10% in 2019

    FAR 81

    AUD 83

    BEC 93

    REG 84

    Ross

    #2052938
    Jodie
    Participant

    Thank you all. Gleim uses 10% for all medical deductions for 2017. When I emailed my contact, he only said just use 10%. I am not happy about this issue at all. I wonder if Jeff knows anything about it.

    Better Late Than Never!

     

    #2052974
    fsugirl2005
    Participant

    @jodie I think Jeff's test bank was using 10% as well. From what I remember the Gleim textbook said 10% for everyone except people who are 65(?) or older, and they are 7.5%.

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    #2053721
    Tim
    Participant

    I would trust the study material, to be honest. The new tax law is the reason the med deductible is 7.5% in 2017 and not 10%. While the new tax law mainly goes into effect in 2018 this one thing went into effect in 2017 for some reason. The new tax law is not being tested.


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    #2054504
    Jodie
    Participant

    Thank you all. I will continue to follow the review materials then.
    Tim, I saw you are using Gleim too, and your scores are pretty high! How many weeks have you spent on REG? My REG schedule on 12/10 and I am only half way through. Very worry.

    Better Late Than Never!

     

Viewing 6 replies - 1 through 6 (of 6 total)
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