Enrolled Agent Cheat Sheet.
The night-before summary, built like the exam.

The credential & the 2026 change

• EA = highest IRS credential · unlimited practice rights (like CPAs/attorneys)
• From Mar 1, 2026: PSI Services administers the SEE — not Prometric; register/schedule via PSI; confirm current specs in PSI's bulletin
• Three parts — Individuals · Businesses · Representation — all passed within 3 years
• Path: PTIN → 3 parts → Form 23 (Pay.gov) → suitability check (tax compliance + background)
• Maintain: renew every 3 years · CE · annual PTIN renewal

Part 1 anchors

• Gift basis = carryover · inherited basis = step-up · LT gain needs >1 year (anniversary = ST)
• Wash sale: 30 days either side → loss disallowed, added to new basis
• Capital losses: $3,000/yr vs ordinary income, indefinite carryforward
• §121 home: $250k/$500k exclusion, 2-of-5-year own + use
• Safe harbors: 90% current OR 100% prior-year tax (110% if prior AGI > $150k)
• Early IRA distribution: 10% additional tax unless exception
• Social Security: at most 85% taxable · post-2018 alimony: no deduction/no income
• Qualifying child: relationship + age + residency + support + joint-return, ALL required
• Hobby: income taxable, losses dead · employee home office: suspended (self-employed only: exclusive + regular use)

Part 2 anchors

• C corp = double tax · S corp: ≤100 shareholders, 1 class, domestic, reasonable comp before distributions
• Partnership: basis caps losses; distributions over basis = gain; guaranteed payments = SE income
• LLC defaults: 1 member = disregarded · 2+ = partnership (corp only by election)
• §351: property for stock + 80% control = no gain · §1031: real property only
• Start-up: $5k now (phase-out over $50k) + 180-month amortization · meals 50%
• §1245: depreciation recaptured as ordinary · §267: related-party losses disallowed (offset buyer's later gain)
• FUTA = employer-only · QBI: up to 20% pass-through deduction (limits apply)

Part 3 anchors

• Unlimited practice: EA / CPA / attorney · PTIN = anyone paid to prepare
• Form 2848 = represent · 8821 = information only
• Assessment SOL: 3 yrs · 6 yrs (25% omission) · none (fraud/no return) — collection is a separate 10-yr clock
• Refund claim: later of 3 yrs from filing / 2 yrs from payment
• Lien = claim · levy = seizure · CDP request: 30 days · OIC: collectibility / liability / effective admin
• Contingent fees: exam/refund-claim/judicial only · client records: return promptly, unpaid bill or not
• E-file mandate: >10 covered returns · EITC diligence: Form 8867 · preparer copies: 3 years
• OPR sanctions: censure → suspension → disbarment

Night before

• Re-run the day-count table above — Part 3 punishes fuzzy clocks
• Current-year dollar figures (standard deduction, limits): check the current IRS pubs — they index annually and this sheet deliberately omits them
• Verify appointment logistics in your PSI confirmation, not old Prometric guidance