Phase Out Amounts

  • Creator
    Topic
  • #1502659
    gigabyte2001
    Participant

    Gleim seems to expect me to memorize the phase out amounts for various tax items. Does the actual exam require this as well?

    AUD - 87
    BEC - 78
    FAR - 82
    REG - 93
    .

    B - 11/11/16
    A - 4/16/16 87!!
    R - 2/17/17
    F - 7/26/16 - Waiting for 8/23

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • #1502671
    RE2PECT
    Participant

    Certain phaseouts you should know, like Sec 179, Corp AMT, and passive activity losses. Ones that seems to change every couple years don't really need to be memorized. There's a bunch of Gleim questions that ask about phaseouts you probably don't need to know. I remember seeing ones about the American Opportunity Credit and the Earned Income Credit, which I wouldn't waste my time trying to remember.

    "Luck is what happens when preparation meets opportunity."

    Roger & Ninja

    FAR: 75
    AUD: 73, 81
    BEC: 71, 73, 82
    REG: 68, 82

    FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
    AUD: 73, 81
    BEC: 71, retake 8/29
    REG:

    #1502676
    gigabyte2001
    Participant

    Thank you!!! I know i've missed several Gleim questions because I didn't know the $25x,xxx phase out limit. I know my 179 (2,010,000/$500k) but i'll take another look at Corp AMT and Passive Activities. Trying to spend 4 days (or so) reviewing before testing Monday.

    AUD - 87
    BEC - 78
    FAR - 82
    REG - 93
    .

    B - 11/11/16
    A - 4/16/16 87!!
    R - 2/17/17
    F - 7/26/16 - Waiting for 8/23

Viewing 2 replies - 1 through 2 (of 2 total)
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