Federal Income Taxation TECEP Advice

[pandas4eva]

Anyone?? I plan on sitting this exam in about 9 or so hours! Looking for any last minute advice.

Anyone know if they do give partial points for computational problems?

While I do not know this for sure, I do believe they give partial points for the computational problems. As far as the problems go, I remember most of them being about either deductions and finding AGI or TI, or about the head of household filing status. For the deductions/AGI/TI problems, it was usually as simple as plugging the appropriate numbers into a 1040 form. For the head of household problems, some involved calculations, but at least one only involved reading about 5 given scenarios and choosing whether the taxpayer could claim head of household for each one. The matching problems had, for example, 10 items one might find in a business. For each one there was a drop down box with two options: depreciable or not depreciable. Sorry if it's not the best example(it's all I could come up with), but hopefully this helps you better understand the matching ones! I also had one computational problem involving partnership interest that I just could not figure out, even with Pub. 541 (Partnerships). Best of luck!