[Anonymous]

I’ve been reading my Gleim 2012 REG book and just discovered that the Startup Costs for Individuals is back to $5,000 for 2011. And if your costs exceed $50,000, you lose $1 on the dollar. For 2010, it supposedly changed to $10,000 and you lose $1 on the dollar if your costs exceed $60,000.

Since this is a very recent change in the 2012 book, will the CPA exam in the next window test us on the $5,000 deduction or will it still be testing us on the $10,000 deduction? Normally, the CPA exam is up-to-date, but since this is a very recent change, I’m not so sure if the AICPA is quick enough to update their questions.

[jeff]

The IRS has changed this back to $5k/$50k for 2011 … 2010 was $10k/$60k.

I would assume the AICPA has updated #s.

[Anonymous]

Cool! Thanks! I just wanted to make sure. I want to do this right. 🙂

[Author]

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