Partnership/C Corp questions on exam

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  • #157371
    Anonymous
    Inactive

    This is my first year preparing tax returns so I scheduled my REG test for Apr 24th (our busy season isn’t quite as bad as I’ve heard others are) but I haven’t done very many partnership or c corp taxes and some of the Becker questions are killing me. Is this a heavily tested area?

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  • #218146
    Anonymous
    Inactive

    Yes

    Knowing basis for partnerships and corps for stuff going in, coming out, and liquidating are all critical.

    #218147
    Anonymous
    Inactive

    You absolutely need to know conduit and corporate entity tax. I'd say it's the most heavily tested area on REG. With that being said you don't need to know how to do a return, but rather common exam items you'll encounter (basis questions, flow-through income, taxability of distributions, etc.)

    #218148
    Guccimane
    Participant

    I forgot…. but if you read everything and learn everything you will do just fine; you do not have to be a guru on anything; just try everything and do your best; good luck

    83 Reg, 76 BEC, 94 Aud, 79 Far

    Done ......!

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