REG Study Group 2019

This topic contains 554 replies, has 99 voices, and was last updated by  74phoenix 1 day, 4 hours ago.

Viewing 30 posts - 271 through 300 (of 555 total)
  • Author
    Posts
  • #2324220

    CH89
    Participant

    That's awesome, I hope your study session went well! We are all rooting for you and this exam, keep on going!

    #2324574

    Michelle1605
    Participant

    Hey BryGuy, so did you feel ok about the overall exam? Would you say it was more difficult or about the same as last quarter?

    #2324595

    BryGuy
    Participant

    Hi Michelle1605,

    I feel pretty good about it. I definitely felt like it was slightly easier than last quarter, but that is probably just because it is my second time taking it and I just felt way more comfortable with the content and types of questions. I wish I could give more information about the exam but I am totally blanking on a lot of the questions and sims.

    #2325165

    74phoenix
    Participant

    Feeling so defeated and unmotivated even though I HAVE TO PASS REG!! I bought Ninja $67/a month for a change of “scenery” because I am not engaged and do not like Becker anymore…

    AUD - 80
    BEC - 77
    FAR - 79
    REG - NINJA in Training
    Sick of having the CPA cloud hanging over my head. Need to get it and move on in life!
    #2325498

    Tncincy
    Participant

    @74phoenix, Hang in there. We're all battling discouragement and non-motivation. But I feel better when my scores in crease or I am able to go over the notes and understand what's going on. I'm ready for it ALL to come together. I have 32 days left, so I am turning it up tonight forward. Maybe even, do some late nighters or very early mornings. If you guys want to start a power week end let me know. I am getting that 100 mcq's not matter if I get them all wrong. I am doing 20 questions per round. maybe I need to do 10 per round. Open for suggestions.
    Monday is the last day of tax season, so I'm ready!

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2325513

    CH89
    Participant

    @tncincy – Nothing wrong with getting some MCQs wrong, at least you are learning from those. I always tend to do MCQs in sets of 10s, I find it easier to go through the information. Good luck!

    #2325510

    CH89
    Participant

    You have one more exam to go! You got this! I hope Ninja gives you that extra jolt of energy to keep on going. We are all cheering and rooting for you! You are going to crush this exam!

    #2327682

    12tang
    Participant

    Why are they using the maximum allowed amount when he only has 20k in losses? I answered A…

    Anscomb is an employee who also solely owns and actively participates in a rental activity which produced a $20,000 loss in the current year. Anscomb’s W2 income in the current year is $115,000. Considering only the foregoing facts, what should Anscomb’s adjusted gross income be for the current year?

    A.$102,500 [21%]
    B.$107,500 [9%]
    C.$115,000 [15%]
    D.$97,500 [56%]
    Explanation
    Choices D (Correct) and A, B, C (Incorrect):
    As an active participant, a taxpayer may deduct losses from rental activities up to a maximum amount of $25,000, with the maximum reduced by 50% of the taxpayer’s adjusted gross income (AGI) in excess of $100,000. Since Anscomb’s W-2 income is $115,000, the maximum Anscomb may deduct is $25,000 – ½ ($115,000 – $100,000), or $17,500. This would give Anscomb an AGI of $115,000 – $17,500, or $97,500.

    2015:

    FAR - 84

    BEC/AUD/REG - Let life get in the way...

    2018/2019:

    BEC - 80

    FAR -

    AUD -

    REG -

    #2328132

    CH89
    Participant

    That's interesting. I went through my review course, and their example had it set up the same way, TP only had $20,000 loss, but used the $25,000 in the calculation above. I am definitely going to dig deeper into this. My only thought of using the maximum amount is to help produce the maximum loss allowed to the extent of the actual loss incurred. If you find any answers, please share!

    #2328144

    Tncincy
    Participant

    I'm finishing up tax returns for pick up tomorrow and decided to peek at the group. lol The above explanation is interesting. I would not have thought to use the $25,000 max. I think I'm going to write it down in case I don't see it again. Good question and good information. Study hard guys. I'll be jumping in within a few hours. Lord tax season is almost over.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2330376

    Tncincy
    Participant

    Hey Ninja's, I hope study is going well today. I had a rough day yesterday, I assumed I would have enough energy to study after doing returns all day yesterday. But I didn't get to do any mcq's, I did play my reg audio all day…some of my clients were listening attentively as they picked up their returns. Along day today as well. But I'm going to jump right in A.S.A.P. Keep studying hard guys, and post some more of those head scratching questions in the meantime.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2331366

    Stonelotus
    Participant

    Hello,

    I read some thread and noted that there is a sample test on AICPA website. However, when I checked out, there are only 5 questions available. Any thoughts on this?

    #2333169

    74phoenix
    Participant

    @stonelotus true! They do not release many.

    Need help guys – shareholder distribution vs shareholder basis – what is the difference? What do they really mean in simple terms?

    Shareholder distribution = FMV of property + cash – liability assumed.
    Shareholder basis = FMV of property + Cash received but NOT reduced by attached liability.

    AUD - 80
    BEC - 77
    FAR - 79
    REG - NINJA in Training
    Sick of having the CPA cloud hanging over my head. Need to get it and move on in life!
    #2333307

    CH89
    Participant

    @stonelotus – It is not many, I think there's 2 SIMs per testlet which is pretty nice. I think it does a fair job in giving you that first hand experience of what to expect come exam day, obviously not from a question perspective.

    #2333364

    CH89
    Participant

    @74phoenix – I'm not entirely sure what you are asking? Would you be able to clarify? Are you referring to a Corporation making a distribution and a shareholder transferring property?

    Also – When calculating a shareholder's basis, you shouldn't be using the FMV of the property, you should be using the Adjusted Basis of the property. Distributions from Corporations would be using the FMV of the property.

    #2334234

    Stonelotus
    Participant

    guys,

    I just took REG today. It was hard, yes. There is not a lot of calculation or limitation. I was so confident with the 1st testlet, the 2nd is harder
    I could not find the IRC though, spent 10 – 15 mins on it and passed. I also failed on 1 SIM 🙁
    Just wait for the result

    #2334447

    74phoenix
    Participant

    @CH89 Yes that's what I am referring to, but honestly don't know my question. I am just confused as to the significance of these topics and why the liability is assumed for one calculation and not assumed for the other.

    AUD - 80
    BEC - 77
    FAR - 79
    REG - NINJA in Training
    Sick of having the CPA cloud hanging over my head. Need to get it and move on in life!
    #2335209

    Tncincy
    Participant

    Hello Gang, I made it through tax season. Although it's officially over, I still have those that doesnot care about the deadline and did not file an extension. Work is not hectic so I'm going to do a round of mcq's to get back in the swing of things. Hope study is going well for you all.
    @stonelotus thanks for the update. I'm good if the calculations are limited. (I think ).
    Keep studying hard guys.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2335416

    74phoenix
    Participant

    @tncincy congrats! Are you still going for 100 MCQ a day? You are helping to motivate me – I usually only do about 40….

    AUD - 80
    BEC - 77
    FAR - 79
    REG - NINJA in Training
    Sick of having the CPA cloud hanging over my head. Need to get it and move on in life!
    #2335578

    Tncincy
    Participant

    Yes, I am going for 100 mcq's…even more if I have to just for my mind sake to be ready. I am doing 10 at a time then go over notes, then do another 10 etc….If i don't get distracted. (Fingers crossed)
    I haven't reached 100 yet. I have no excuses now because work is very slow.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2336109

    nick8503
    Participant

    Hello everyone, just getting back into REG after taking BEC in January and AUD in March, with a re-take yesterday.. Hopefully get good news on 5/7 when scores are released..
    Good to see some activity in here, I'll be sure to keep an eye on this thread, and try to contribute when and where I can.. Hang in there everyone, we can do this!!

    AUD - 82
    BEC - 88
    FAR - 76
    REG - 78
    "If it doesn't challenge you, it won't change you"

     

    #2337174

    74phoenix
    Participant

    @nick8503 good luck!

    AUD - 80
    BEC - 77
    FAR - 79
    REG - NINJA in Training
    Sick of having the CPA cloud hanging over my head. Need to get it and move on in life!
    #2337882

    Tncincy
    Participant

    I did not study at all yesterday. One thing after the other. So, I closed my office for the rest of the day, and I am studying the rest of the day. I will post an update on my success. I am doing this for an accountability to keep from procrastinating.
    @nick8503 Hey, Good luck to you. Thanks for the well wishes. Keep those fingers crossed for the rest of us.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2339736

    74phoenix
    Participant

    @tncincy how did it go? I did not study at all yesterday…..I need to prioritize it but was very lazy.

    AUD - 80
    BEC - 77
    FAR - 79
    REG - NINJA in Training
    Sick of having the CPA cloud hanging over my head. Need to get it and move on in life!
    #2340267

    Tncincy
    Participant

    @74phoenix So I did 50 mcq's. I didn't save one session of 10 because something went on with my computer. My daughter was trying to print from her laptop on this new wireless all in one printer I bought. Well, the printer disconnected from my computer and the wifi. The message was saying printer offline, and not connected. So two of my engineer buddies were coming by for a meeting (not with me) and they decided to fix the printer problem and re-connect the wifi. Yes, they made it worse so I spent 3 or more hours listening to audio because I couldn't get to my computer nor could I get wifi to do more questions. I did go over the ones I got wrong. I'm stuck on the sold shares type of questions. My first couple of rounds were a little shaky. But as soon as I was getting more correct is when the problem started. So today I am getting started again. I fixed my printer and my computer and I'm in business again. My daughter has not tried to print anything, and I don't think I'm going to let her. (lol)
    Again I'll post my progress for accountability. I have keep going. The clock is ticking.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2340564

    Tncincy
    Participant

    Ohhh, I am beginning to feel anxious. My trending is not moving. 🙁 P.S I just figured out the blue print areas. Oh this is going to be a long day.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2341359

    Tncincy
    Participant

    So I went through 50 mcq's, my trending is not changing 🙁 . I'm beginning my evening session. My goal is another 50 then I'll go over the ones I missed. Keep studying gang, the clock is ticking.

    Come on 74phoenix, Where are you? You studying? You ready to pass?

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2341518

    CH89
    Participant

    @tncincy – One thing that helped me improve my score for MCQs was read and re-write the Ninja notes on that topic that was giving me problems. Then I would go and do some MCQs for that specific section. Your hard work, dedication and persistence will pay off!

    #2342400

    74phoenix
    Participant

    @CH89 that is what I intend to do too!! @tncincy do not get discouraged – this is also a mental game and we CAN DO IT! Today I have reviewed some key notes and trying for 150 MC. I have been doing flashcards and want to do those as well. Going to have my boyfriend start quizzing me when we are together. I am in this to win this. I am in control of my schedule and do not have to celebrate Easter ALL weekend – MUST study! God knows!!!

    AUD - 80
    BEC - 77
    FAR - 79
    REG - NINJA in Training
    Sick of having the CPA cloud hanging over my head. Need to get it and move on in life!
    #2342628

    74phoenix
    Participant

    50 random NINJA MCQ:

    Session Score: 52.00%

    Total Time: 01:10:36

    Number of Questions: 50

    Average Time: 00:01:24

    I have to get this score up!!!! Dedicated to doing this. Going back to property transactions and corporate tax notes.

    AUD - 80
    BEC - 77
    FAR - 79
    REG - NINJA in Training
    Sick of having the CPA cloud hanging over my head. Need to get it and move on in life!
Viewing 30 posts - 271 through 300 (of 555 total)

You must be logged in to reply to this topic.


Would You Hate It If I Gave You $162.12 Of Free CPA Review Material That Will Help You…

1) Study Less

2) Avoid Common CPA Candidate Mistakes

3) Get Higher Scores

4) Spend More Time with Friends and Family

5) Finally Pass and Get On With Your Life?