Tax treatment of gifts/bequests

daneyh

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Holy **** have schweser seemed to have made a mountain out of a molehill with their tax ‘RV’ calculations.
Anyone found any mnemonics or easy way to remember these formulas?
 
1) **** ain’t holy.
2) by now if you are trying to memorize the formulae, you are in the wrong world.
3) understand the implications of the formula.
4) read the book …. it explains things much better.
5) formulae cannot have mnemonics.
 
I try to understand what variables are involved according to the four possible scenariosand then I memorise the formulas (which are quite
similar one another …)
4 formulas to memorise don’t seem a big deal to me. Do not get scared, just get familiar with the scenarios and everything will be easier.
Good luck
 
Agreed the concepts get you a lot of the way here. Just pay attention to how each formula builds on the one that they introduced right before it –> and don’t get bogged down in this section. Make some notecards for the formulas and concepts and get through it quickly
 
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