[jeff]

Welcome to the Q2 2015 CPA Exam Study Group for REG.

“Death and Taxes” – Individual Tax for the CPA Exam

Posted by Another71 on Monday, November 24, 2014

Free NINJA: https://www.another71.com/cpa-exam-study-plan/

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Gabe]

@anj I wouldn't spend too much time. That was my mistake with FAR. I spent 5+ months and studying and starting forgetting things. You're not going to know everything. You need to know enough to get a 75, that's it.

@sandia- with only 18 days out, no. I mean, if you have money to throw at Wiley go ahead, but I don't. Just knowing how the IRC “links” things helped me. I didn't mean to freak you out, but just be familiar with the IRC. Are you just using Ninja? Do you have Becker?

AUD: 84
BEC: 76
FAR: 81
REG: 4/3/15

OK Candidate

[Sandia]

@ Gabe – I have Yager CPA review (classes + book)… you are right!! at this point..I will take it and see what I need to do after the score.

I used Wile TB amd Ninja for Audit but for REG I use only Ninja,.. 60% done score tending 80%,… I will see… Thank you, Panic is normal and part of the gain at this point LOL.

FAR - 77 x2 Wiley book & no test bank
AUD - 83 x3 NINJA Test bank 3 time
REG - 80 x1 NINJA Test bank
BEC - 78 X2 NINJA Test bank ..done!!promesa cumplida mama -que llege al cielo 🙂
Ethic 100% Licensed VA CPA

[Gabe]

@sandia I understand. Just keep working on trouble areas, and work your confidence up with MCQs. You CAN do this! As my wife says, if you can beat FAR, you can beat REG 🙂

AUD: 84
BEC: 76
FAR: 81
REG: 4/3/15

OK Candidate

[Anonymous]

Sandia, take a look at the AICPA's sample test. There is a research question there with the AL. See if you can figure out the question and it will also give you a chance to see how the AL works.

[julietul]

Sorry for the delay, crazy day at work. The question number to the “Clip-Joint” S Corporation is #1395.

I guess I was getting confused on what the question was asking…. as it was late in the day. I definitely need to study this more.

If a S-Corp distributes property to a shareholder….the shareholder's basis in that property is FMV?

If a C-Corp distributes property to a shareholder….the shareholder's basis in that property is carried over from whatever the basis was ….??? Not sure here

If a Partnership distributes property to a partner…….

Why can't there be just ONE rule ….

FAR - pass (expires 7/31/15)
AUD - pass
BEC - pass
REG - April 20

[Mhayes22]

S corp = FMV

C corp = FMV

Partnership = Partnerships basis, unless Partnerships basis is larger than partners basis or its a liquidating distribution.

AUD: 99
FAR: 90
REG: 96
BEC: 90
Done!

[Sandia]

Gracias chicos!!ups English English… WE CAN DO IT!! Thank u for the tip and cheers

C Corp – FMV distribution but If the shareholders have control (more 80%) use the Basis. I made many errors x do not remember that.

Good luck tomorrow Angel – YOU CAN DO THIS!!!

FAR - 77 x2 Wiley book & no test bank
AUD - 83 x3 NINJA Test bank 3 time
REG - 80 x1 NINJA Test bank
BEC - 78 X2 NINJA Test bank ..done!!promesa cumplida mama -que llege al cielo 🙂
Ethic 100% Licensed VA CPA

[Anonymous]

Thanks Sandia. I don't test until Thursday though 😉

[Anonymous]

Took the day off from studying today. The part that's even sadder is that I didn't do shit on my “day off”.

[Future Ninja]

@gabe I thought you're a female. Lolz.

anyway, guys just got out from my REG second stab. Quite difficult from my first take. I felt the testlets went from medium to hard. I got few law question and more on taxations with heavy calculations on my 3rd testlets. A few about ethics too. A question from my 1st teslet was very similar from ninja mcq and I hope I got it right. As if I'm hearing Jeff's voice while taking the exam. Thanks Jeff.

Guys, best of luck to all of you. Don't forget to use the AL to all simulation. I'm on to BEC.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

Did REG today. The questions were easy imo. So easy that I wondered if I did something wrong. Either all my studying paid off and I didnt realize a change in difficulty (like you are supposed to if you do well on one section) or I lucked out.

Sims were hard as usual. Some that I didnt know at all. Fingers crossed tho. I had two research questions, hopefully they are both graded.

[RTCPA]

hey guyz

do we need to remember the phase-out, credit limits ..etc by heart for each category?

[PasstheCPA7]

@ RT: I wouldn't. I would just know the basic ones (i.e. Mom and Pop, etc.). When are you taking the exam?

[RTCPA]

@ PasstheCPA7 by end of may, however im just starting now

[RTCPA]

@ PasstheCPA7, how I can tell that one tax is basic or not, Iam international student and have no idea about taxes

thnx

[Author]

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