REG Exam Questions & Answers 100% CORRECT 2024/2025
Supplementary Income/Loss (RRF-COP)
R - Rental Income
R - Royalties
C - Copyrights
O - Oil/Gas leases
P - Patents
F - Flow Through Entities (S corp, Partnership, Estates & Trusts) - ANSWERSSchedule E
I EMBRACED Education, Heath, a...
F - Flow Through Entities (S corp, Partnership, Estates & Trusts) - ANSWERSSchedule E
I EMBRACED Education, Heath, and Farm
I - Student loan Interest
E - Self Employment tax (50%)
M - Moving Expenses
B - Business Expenses (Schedule C)
R - Rental, Royalty, Flow-Through entity (Schedule E)
A - Alimony paid (CANNOT)
C - Contributions to retirement plan
E - Early withdrawal penalty (when used for reinvestment)
D - Jury Duty fee *If remitted to employer
Education - Qualified higher ed expenses
Health - Contributions to Health Savings Account (HSA)
Farm - Farm income (schedule F - Similar to schedule C) - ANSWERSAdjustments FOR (To) AGI
CANNOT
C - Cash payments or equivalent
, A - Apart when payments made
N - Not child support (support paid first)
N - Not designated as property settlement
O - Own return for payer & payee (no joint return)
T - Terminates upon death of recipient - ANSWERSAlimony
COMMITT
C - Charity (50% limit)
O - Other Miscellaneous
M - Miscellaneous (2% hurdle) (BIT)
B - Business expenses
I - Investment expenses (safety deposit box)
T- Tax prep fees
M - Medical expenses (10% hurdle)
I - Interest paid
T - Taxes paid (state, local, property/real estate)
T - Theft and casualty losses (10% hurdle & $100 per event) - ANSWERSItemized deductions FROM AGI
(Schedule A)
NOT a GIMC
G - Gambling losses
I - Investment Interest
M - Medical expenses
C - Casualty losses - ANSWERSItemized deductions affected by 80% phaseout limit
JARRS
J - Joint return - No
A - Age (under 19 or 24 is fulltime student)
R - Residency (US, Canada, Mexico)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Bensuda. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.49. You're not tied to anything after your purchase.
