REG – Estate, Trust, Gift

CPA Exam Forum REG REG Review REG – Estate, Trust, Gift

This topic contains 4 replies, has 0 voices, and was last updated by  Soproudofmyself 4 years, 7 months ago.

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  • #166312

    Soproudofmyself
    Participant

    Hey! I’m having a hard time grasping estate, trust and gift taxation and Becker is not helping me at all =( Can you guys advice what helped you understand it best? Maybe I’m reading too much into it…as I do with everything!!! I think examples work best for me but there aren’t any in the book and I’m not a tax accountant….so I’m lost! =(

    #323811

    kmwgrace
    Member

    Can you give a specific example of what you don’t understand? Maybe an MC question from Becker that we can help you reason through? I thought Becker summarized it pretty well but I took a “Tax Topics” class last semester where we spent 3 class periods on estates, trusts, and gift tax so the Becker stuff was review for me – I can see how it would be difficult if this is the first time you’re seeing it.

    #323812

    Soproudofmyself
    Participant

    I’m going to focus the rest of the evening studying all 3 subjects. I think I’m having a hard time tying it all together…the whole gift/estate is confusing me.

    Becker doesn’t dedicate too much of the book on it or in the questions or simulations….i think more simulations on these topics would be helpful.

    I’m testing in 2 weeks and prior to that, I need to find another source.

    #323813

    Soproudofmyself
    Participant

    are the foreign death taxes and prior transfer taxes “credits” subject to the 1,730,800 allowed for 2011? and is the 1,730,800 an automatic applicable credit or do you have to meet certain criterias? Any exceptions to the credit?

    #323814

    Soproudofmyself
    Participant

    Thanks Minority!

    and a gift of property takes on donor’s value not the FMV at date of gift right?

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