2011 Regulation 2 Update - Regulation 2 Update 2011 Edition...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Regulation 2 Update – 2011 Edition Regulation 2 Online Update for the 2011 Edition Last Updated March 3, 2011 Items Updated Since Last Posting: A.4. – A.6. Section A: TEXT ERRATA A.1. Page R2-23, Item 4.a(3): “Mortgage Insurance Premiums” The text indicates that there is pending legislation that may extend the deductibility of mortgage insurance premiums through 12/31/10. The legislation passed, and the deduction exists for the year 2010. A.2. Page R2-12, Item G.1: Moving Expenses—New Workplace There is a typo in the middle of the paragraph. Please make the following manual correction to your textbook: “………….Further, the distance between the taxpayer’s new residence and new place of work must generally be less than or equal to the distance from the old residence to the new place of work.” Stated another way: The Regulations state that the distance from the new home to the new job cannot be greater than the distance from the old home to the new job A.3. Page R2-35, Item A.1.c(2) and Item A.1.d These two items may pose some confusion for students, as they are listed in two places on the page. Part of the American Opportunity Credit [Item A.1.c(2)] is refundable (40%), and part is not. The adoption credit is refundable for years 2010 and forward, but it was not refundable prior to 2010. In order to clear the confusion, please strike-out the following lines items, as shown: c.(2) American Opportunity credit d. Adoption credit A.4. Page R2-9, Item C.5.d(1) During the multimedia lecture when the national instructor mentions the Coverdell contribution requirements, he indicates that a beneficiary child must be under the age of 19 . The national instructor simply misspoke. The information that is presented in the textbook for this item is correct. A beneficiary child must be under the age of 18 . A.5.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/25/2011 for the course ACCOUNTING AC591 taught by Professor W during the Spring '11 term at Keller Graduate School of Management.

Page1 / 4

2011 Regulation 2 Update - Regulation 2 Update 2011 Edition...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online