[whitesoxfancpa]

For REG, some of my practice questions ask questions where in order to answer them, you have to know phaseout amounts and limitations on credits, etc. Are these required on the actual exam or do they give you the information? I’m having a tough time memorizing all the different amounts.

AUD 96 FAR 95 REG 94 BEC 88

[Anonymous]

For my exam in particular, I did not need to know any of them. But I would know just two to be safe– the AMT Exemption formula and the $166,800 limit for itemized deductions.

[Anonymous]

There are a couple of areas where you should know the specific numbers.

AMT, Casualty Losses, and Section 179 amounts (phaseouts, amounts, thresholds, etc).

All other items will either be grossly over the threshold or obviously below.

[Anonymous]

@Dale– good point with the casualty losses, I completely (already) forgot about that one. Section 179, that's a wild card but if you get it, you get it.

[One for Four]

So I have 2009 Becker material, which references a lot of 2008 phaseouts and thresholds. So I have been looking up the details for AMT & other limits, etc on gov.irs site. There is so many variations from 2008, 2009, and then 2010(dependant on congressional action). I'm taking REG Aug 31, do I go with all the 2009 thresholds, amounts, etc?

Any advice would be great.

[MJP]

One for Four, I took REG last July 8. Based from that, you don't to memorize the phaseout, credit limits, etc. I completely agree with Dale on what you should take in mind. And I think you're quite fine with the 2009 Becker. Goodluck!

BEC - 85 | AUD - 92 | FAR - 95 | REG - 87

[Author]

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