[SuperCPA]

I am having the toughest time trying to understand the Individual tax section of REG. It probably seems easy to most, but I am struggling hard. I read the book (roger) and watched the lectures twice, but there are soo many limitations, phaseouts, etc. that when I do the MCQ I end up forgetting/not knowing that a certain “rule” exists, which makes me answer the question wrong.

Has anyone created a review sheet/chart/bulleted notes that they are willing to share, that may help.

[BBHYX]

Flashcards are really helpful for that! You should considering making your own flashcards. You don't really need to memorize all the phaseouts and numbers.

[Ash]

Have you tried actually doing a couple tax returns by hand with different income and deduction scenarios to help you understand the flow of information, calculations, etc.? I worked in tax for years (using software obviously) before I had to prepare tax returns by hand in an individual taxation class and I gained much more understanding of how everything fit together. I still have all of the tax return scenarios and solutions from this class and would be willing to share them.

[Anonymous]

looking at a 1040 will help. But I would recommend not getting hung up on phaseouts-those aren't really tested. I would focus on itemized deductions and adjustments and know those well, like medical, casualty losses, what is an adjustment and what is an itemized deduction. Everything else I agree is confusing, but don't get hung up on it.

[Author]

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