[loyaldodgersfan]

I’m currently studying for regulation at the moment and my head is already spinning from all the rules and codes to keep in mind. Are we supposed to know by heart the phase-out amounts for each filing status?

For example, in determining AMT, the exemption amount ($53,600 for singles, $83,400 for married filing jointly) is reduced by 25% of the AMTI exceeding $119,200 (or $158,00 for MFJ). Are we supposed to know those exact numbers or will they be given during the exam?

[MOAC]

going over MCQs will help you with that I think. If in MCQs you're supposed to solve it with the information given in the question, then yea you need to learn it by heart.

FAR May 2012 81 (lost credit, didn't sit for other sections.)
FAR 86 Aug 2015
AUD 85 Nov 2015
BEC 84 Dec 2015
REG 78 Mar 2016

Passed ALL sections in first attempt!!

[CPA Slayer]

They will make it obvious to you that they are giving you a phase out question. My rule of thumb was anything over 100,000 usually starts having a phase out. As for AMT.. I would just memorize the 25% exemption rule.

Like MOAC said, the more multiple choice you do, the more the ones you need to know will stick in your head.

FAR - 84
REG - 86
AUD - 90
BEC - 88

KO the test in 5 months even though I am a dummy!

Through God all things can happen!

"But, in our defense, accountants aren't really boring people.
We just get excited over boring things."

[Anonymous]

There are only a few items that you need to remember, they will be mentioned in the video assuming you use Becker. For example, the capital loss deduction amount-3000 for 1040 and worthless stock deduction-100,000 MFJ etc.

You do NOT need to pay too much attention to AMT.
You need to be familiar with Tax credit, especially what is refundable and what is not. But the actually amount, especially phase out amount, is useless.

[Author]

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