[Gerg, CPA]

this question is mostly directed at jeff regarding what i find to be some confusing wording in the ninja notes & ninja blitz for individual taxation.

you say that the following itemized deductions are not subject to an AGI reduction, and then “Medical” is the first one that you list. a little confused due to the fact that there is an 7.5% AGI limit on medical expenses. I would consider that as subject to an AGI reduction. Am I missing something? I have been a tax accountant for 9 years now so i hope not….

FAR - 1/26/2012 - PASSED (78, but Lost credit), re-do 11/27/2013 - PASSED (87)!
AUD - EPIC FAIL, 71, 69; 68; 5/25/2013 - PASSED (85)!
REG - 10/1/2012 - 72; 7/1/2013 - 73 UGH, 10/1/2013 - PASSED (85)!
BEC - 2/28/2013 - PASSED (82)!
Licensed CPA!

Used Becker self-study materials (just this for FAR original & REG #1), WileyTestBank, NINJA notes/audio, and Roger cram course for AUD #5, REG #3 & FAR reboot. CPA!

[Gerg, CPA]

same for casualty loss, which is reduced by 10% of AGI

FAR - 1/26/2012 - PASSED (78, but Lost credit), re-do 11/27/2013 - PASSED (87)!
AUD - EPIC FAIL, 71, 69; 68; 5/25/2013 - PASSED (85)!
REG - 10/1/2012 - 72; 7/1/2013 - 73 UGH, 10/1/2013 - PASSED (85)!
BEC - 2/28/2013 - PASSED (82)!
Licensed CPA!

Used Becker self-study materials (just this for FAR original & REG #1), WileyTestBank, NINJA notes/audio, and Roger cram course for AUD #5, REG #3 & FAR reboot. CPA!

[jeff]

Subject to an AGI Phaseout is what I mean…if I said “reduction” then that's my fault.

Med

Casualty

Gambling

Investment Int.

[Gerg, CPA]

okay that makes more sense. Although the itemized deduction phaseout was not in place for 2012 tax purposes. But it was reinstated for 2013. Will we be tested on 2013?

FAR - 1/26/2012 - PASSED (78, but Lost credit), re-do 11/27/2013 - PASSED (87)!
AUD - EPIC FAIL, 71, 69; 68; 5/25/2013 - PASSED (85)!
REG - 10/1/2012 - 72; 7/1/2013 - 73 UGH, 10/1/2013 - PASSED (85)!
BEC - 2/28/2013 - PASSED (82)!
Licensed CPA!

Used Becker self-study materials (just this for FAR original & REG #1), WileyTestBank, NINJA notes/audio, and Roger cram course for AUD #5, REG #3 & FAR reboot. CPA!

[jeff]

Yes – beginning July…updating REG this week

[Author]

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