[Anonymous]

The Tax Credits are really detailed and nitpicky. It’s going to take me a good 4-5 days to really master all those credits amounts and phaseouts, especially since many of them have undergone some major changes.

So I ask…. how much of this do I really need to know for the exam? Obviously, I will memorize which credits are refundable and nonrefundable. But as far as the credit amounts, exemptions, phaseouts, and the exceptions of the credits, how much of this do I really need to know?

Since I don’t want to waste time for nothing, I feel it is important that I ask this.

Many thanks!!

[OnMyWayToCPA]

Its hard to say because you never know what exam you're gonna get. Without disclosing too much, I will just say that I could have skipped that entire section and been just fine 😉 There was so little Tax on my exam that I was actually a little annoyed… But if you don't study it, it could be just your luck that you have multiple questions on it…

I see you still have quite a while to study and were really close (the dreaded 74) last time so I'm thinking you have it in the bag =) Good Luck!

B - 79 PASSED (1/4 there!)
A - 77 PASSED (1/2 there!)
F - 79 PASSED (3/4 there!)
R - 83 PASSED (DONE!!!!!!)
Review Course: Lambers , Wiley and Ninja

[Anonymous]

I wouldn't worry about the actual phase out amounts, just whether there is a phase out. More important to understand other criteria, e.g. which expenses an eduction credit covers. Should you skip over foreign tax credits? — NOPE!

[Author]

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