REG CPA Exam – All Mnemonics (USA, 2025) – Complete Study
Aid for Tax and Law Sections
W |- |answers |with |rationalesWidower/Whole |Year |R1-8
H |- |answers |with |rationalesHead |of |Household/Half |Year |R1-8
CARES |- |answers |with |rationalesR1-11 |Qualifying |child |requirements
Close |relative
Age |limit
Residency |and |filing |requirements
Eliminate |gross |income |test
Support |test |changes
SUPORT |- |answers |with |rationalesR1-11 |Qualifying |relative |requirements
Support |(over |50 |percent) |test
Under |specific |amount |of |taxable |gross |income
Precludes |dependent |filing |a |joint |tax |return
Only |citizens |of |US/Canada/Mexico
Relative |test
Or
Taxpayer |lives |with |individual |for |whole |year
Realized |- |answers |with |rationalesReal |world
Recognize |- |answers |with |rationalesRecord |on |the |books
HIM |DEAD |- |answers |with |rationalesR1-27 |Exception |to |penalty |tax |on |IRA |early |withdr.
Home |buyer |(first |time)
Insurance |(medical)
Medical |expenses |in |excess |of |10% |AGI
Disability |(permanent |or |indefinite)
Education
, And
Death
Hindsight |is |20:20 |- |answers |with |rationalesNOL |carryback/carryforward |rules:
2 |years |back
20 |years |forward
The |A's |- |answers |with |rationalesR2-3 |Adjustments |(deductions |to |arrive |at |AGI)
Anyone |is |Automatically |Allowed |Any |Amount |Always |(if |you |qualify)
HIDE |IT |- |answers |with |rationalesR2-15 |& |R3-12 |Gains |that |aren't |taxable
Homeowner's |exclusion
Involuntary |conversion
Divorce |property |settlement
Exchange |of |like-kind |assets
Installment |sale
Treasury |capital |and |stock
GIMC |- |gimick |- |answers |with |rationalesR2-20 |Itemized |deductions |not |subject |to |limitation
Gambling |losses
Investment |Interest |expense
Medical |expenses
Casualty |& |theft |losses |(non-business)
FIB |- |answers |with |rationalesR2-23 |Nondeductible |taxes
Federal |taxes |(including |social |security)
Inheritance |taxes |for |states
Business |and |rental |property |taxes
HIPPE |- |answers |with |rationalesR2-24 |Types |of |interest |expense |is/isn't |deductible
Home |mortgage |interest
Investment |interest |expense
Personal |(consumer) |interest
Prepaid |interest
Educational |loan |interest |(adj. |not |Itemized |ded.)
Aid for Tax and Law Sections
W |- |answers |with |rationalesWidower/Whole |Year |R1-8
H |- |answers |with |rationalesHead |of |Household/Half |Year |R1-8
CARES |- |answers |with |rationalesR1-11 |Qualifying |child |requirements
Close |relative
Age |limit
Residency |and |filing |requirements
Eliminate |gross |income |test
Support |test |changes
SUPORT |- |answers |with |rationalesR1-11 |Qualifying |relative |requirements
Support |(over |50 |percent) |test
Under |specific |amount |of |taxable |gross |income
Precludes |dependent |filing |a |joint |tax |return
Only |citizens |of |US/Canada/Mexico
Relative |test
Or
Taxpayer |lives |with |individual |for |whole |year
Realized |- |answers |with |rationalesReal |world
Recognize |- |answers |with |rationalesRecord |on |the |books
HIM |DEAD |- |answers |with |rationalesR1-27 |Exception |to |penalty |tax |on |IRA |early |withdr.
Home |buyer |(first |time)
Insurance |(medical)
Medical |expenses |in |excess |of |10% |AGI
Disability |(permanent |or |indefinite)
Education
, And
Death
Hindsight |is |20:20 |- |answers |with |rationalesNOL |carryback/carryforward |rules:
2 |years |back
20 |years |forward
The |A's |- |answers |with |rationalesR2-3 |Adjustments |(deductions |to |arrive |at |AGI)
Anyone |is |Automatically |Allowed |Any |Amount |Always |(if |you |qualify)
HIDE |IT |- |answers |with |rationalesR2-15 |& |R3-12 |Gains |that |aren't |taxable
Homeowner's |exclusion
Involuntary |conversion
Divorce |property |settlement
Exchange |of |like-kind |assets
Installment |sale
Treasury |capital |and |stock
GIMC |- |gimick |- |answers |with |rationalesR2-20 |Itemized |deductions |not |subject |to |limitation
Gambling |losses
Investment |Interest |expense
Medical |expenses
Casualty |& |theft |losses |(non-business)
FIB |- |answers |with |rationalesR2-23 |Nondeductible |taxes
Federal |taxes |(including |social |security)
Inheritance |taxes |for |states
Business |and |rental |property |taxes
HIPPE |- |answers |with |rationalesR2-24 |Types |of |interest |expense |is/isn't |deductible
Home |mortgage |interest
Investment |interest |expense
Personal |(consumer) |interest
Prepaid |interest
Educational |loan |interest |(adj. |not |Itemized |ded.)
