[reenz]

Its my first exam which i am going to give on oct 28, REG. I have been using Becker’s self study course & Wiley . Wanted to clarify about the 2013 updates. The study guide shows the medical expense AGI limitation of 7.5%, but updates for 2013 shows 10%, so do i follow the study guide or updated figures for the exam which i am giving next week.

Would appreciate if anyone can help me on this. All last minute tensions and confusions. Thank you.

[Anonymous]

My exam was not this specific. I wouldn't stress yourself out about %s and thresholds. Good luck!

[Anonymous]

My exam was not this specific. I wouldn't stress yourself out about %s and thresholds. Good luck!

[Anonymous]

I've seen an answer to this question but I can't remember it. However, like CPA_driven said, the exam is not usually this specific. I don't remember having any questions that required having an exact 2012 vs 2013 knowledge of tax code. Some questions worried me that they might – like they say “On Oct 18, 2013 Elisabeth bought a new car for $34,695 and paid $2081.70 of sales tax. If her AGI is $30,000 and she is itemizing deductions, how much of the sales tax may she deduct?” And I'd start to freak out “Did something change between 2012 and 2013 for sales tax deductions?!” but the question really just had a date thrown in for no reason. (Note: This is not to say “Freak out if you don't know the sales tax rules” – it's just a random example based on the fact that I'm looking at buying a car, though my car budget is far below $34k!)

[Anonymous]

I've seen an answer to this question but I can't remember it. However, like CPA_driven said, the exam is not usually this specific. I don't remember having any questions that required having an exact 2012 vs 2013 knowledge of tax code. Some questions worried me that they might – like they say “On Oct 18, 2013 Elisabeth bought a new car for $34,695 and paid $2081.70 of sales tax. If her AGI is $30,000 and she is itemizing deductions, how much of the sales tax may she deduct?” And I'd start to freak out “Did something change between 2012 and 2013 for sales tax deductions?!” but the question really just had a date thrown in for no reason. (Note: This is not to say “Freak out if you don't know the sales tax rules” – it's just a random example based on the fact that I'm looking at buying a car, though my car budget is far below $34k!)

[reenz]

Thank you Lila & CPA_Driven .

Since you both gave your exam this year. Did you guys study, Personal Exemption as 3900 or 3800? to claim for the dependents you got to know the personal exemption as the base right, whether he qualifies or not ? IRA maximum contribution as for MFJ as 10000 or 11000 ? Maximum contribution for FSA is 2500 this year but last year it was 5000 and Standard deduction & so on.

Thank you.

[reenz]

Thank you Lila & CPA_Driven .

Since you both gave your exam this year. Did you guys study, Personal Exemption as 3900 or 3800? to claim for the dependents you got to know the personal exemption as the base right, whether he qualifies or not ? IRA maximum contribution as for MFJ as 10000 or 11000 ? Maximum contribution for FSA is 2500 this year but last year it was 5000 and Standard deduction & so on.

Thank you.

[reenz]

Thank you Lila & CPA_Driven .

Since you both gave your exam this year. Did you guys study, Personal Exemption as 3900 or 3800? to claim for the dependents you got to know the personal exemption as the base right, whether he qualifies or not ? IRA maximum contribution as for MFJ as 10000 or 11000 ? Maximum contribution for FSA is 2500 this year but last year it was 5000 and Standard deduction & so on.

Thank you.

[reenz]

Thank you Lila & CPA_Driven .

Since you both gave your exam this year. Did you guys study, Personal Exemption as 3900 or 3800? to claim for the dependents you got to know the personal exemption as the base right, whether he qualifies or not ? IRA maximum contribution as for MFJ as 10000 or 11000 ? Maximum contribution for FSA is 2500 this year but last year it was 5000 and Standard deduction & so on.

Thank you.

[Author]

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