REG thresholds, max or phaseout?

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  • #1578256
    runegoblet3xx
    Participant

    For those who’ve already taken the test, or just some basic guidance, surely it’s impossible to know all of those phase-out limits, or thresholds to qualify for some things, the max caps on deductions, etc.

    So, what should we be focusing on? I’m starting to review, and now all of that info is starting to freak me out again. I don’t have the new 2017 book yet, and honestly it’ll be even harder for me to recall because day-to-day I do taxes and still recall the 2016 numbers for those purposes.

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  • #1578257
    cmcook
    Participant

    The percentages or thresholds that are likely to change year-over-year will be likely given in the question stem. Things that never change (carry over amounts, gift deductions, etc.) might be questioned.

    I felt the same way – in fact, I spent so much time trying to memorize the minutia that I might have lost sight of the big picture and inadvertently shot myself in the foot. I find out August 17.

    #1578302
    runegoblet3xx
    Participant

    That's what I figured. It makes sense; that would be nothing short of torture to make us try to remember all of that. Yet, I panicked. That's what these tests to do me haha.

    I'm sure you did better than you think!

    I felt the same way walking out of FAR. Especially those SIMs.

    The hardest part of studying right now in general is the weather is nice and a lot of my friends have a ton of free time to actually do stuff…and I can't always participate.

    #1578314
    cmcook
    Participant

    It's easy to panic! And particularly with REG. Though I haven't finished studying far, I'm positive reg for me was the worst. Hands down.

    I get it about the weather, etc. But just imagine having to retake this! I shudder to think. You can do this!!

    Thanks for the encouragement, I hope you're right!

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