[Anonymous]

What types of tax related dollar amounts are necessary to memorize? For example the Phase-Out amounts and things like that nature… Will they be given in the exam or do we have to memorize every little threshold?

[MaLoTu]

gift tax and that passive income offset for individuals making less than 100k (mom & pop exemption). I dont think they will ask you phase out or specific amount questions about anything else, they will give you the numbers, I think.

Know how to get to AGI and the below the line deductions. Know how to reconcile book to tax.

Almost always from my phone... please excuse my typos!

All 4 passed - 2016

CA CPA

[Determined CPA]

MaLoTu pretty much summed up all the good ones to memorize. Also basis I think is important to know.

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Last Chance CPA]

They don't expect you to remember everything, I would just focus on the obvious ones. I can't divulge anything from the exam, but this time around for attempt #5, I realized there was an AGI limitation-based question that I probably would not have bothered to remember. Luckily, I did study it and I was able to look it up using the IRC AL as well. That's all I can say, study the obvious ones, and leave the more obscure ones alone.

AUD - 75
BEC - 75
FAR - 76
REG - 76

I want those initials next to my name!!!!

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[MaLoTu]

Yes, know basis as Determined pointed out.

Almost always from my phone... please excuse my typos!

All 4 passed - 2016

CA CPA

[Anonymous]

Basis basis basis!! Also, know basis!

[Anonymous]

I would suggest learning the rules regarding the different types of IRAs/retirement plans and the income levels and other qualifiers for each one.

In general, I think it's a good idea to memorize the rules for all itemized deductions discussed in whatever text you are using. Most of them are pretty standard. But I don't recall having to know phaseouts. It is typical to see “disregarding phaseouts/AGI limitations, etc. …” on the exam. But pay very close attention to the wording of the questions, especially on the Sims.

[Author]

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