[se7en.14]

Hello all,
Which review company is the best for REG in your opinion? I used Becker and I couldn't pass and my review is getting outdated (2018) although I kept up with the new laws/reg. I think maybe I should try a new review course and maybe some magic will happen. haha

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[se7en.14]

Can someone show the calculation on how to get $430k? Thanks

In the current year, Vinton exchanged unimproved land for an apartment building. The land had a basis of $300,000, and a fair market value (FMV), of $420,000, and was encumbered by a $100,000 mortgage. The apartment building had an FMV of $550,000 and was encumbered by a $230,000 mortgage. Each party assumed the other's mortgage. What is Vinton's basis in the office building?
A.$300,000
B.$320,000
C.$430,000
D.$550,000

Answer – C.

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[se7en.14]

Any update on the search bar? or still wip? It's a very helpful tool. Thanks!

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[se7en.14]

Does anyone know what's going with NYC testing centers?
there seems to be no slots at all for REG until July, there's a few in beginning of May, but that's it. (I do have mine booked for May 4, but the shelter-in is extended to May 15..so I think it will be cancelled.

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[se7en.14]

Are you allowed to deduct $3k of capital loss from ordinary income? I thought the deductions were allowed for capital gains.

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[se7en.14]

is it a rule that you have to defer 50% of the loss from wash sale? thanks.

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[se7en.14]

Can someone clarify what the tax credits are under AMT? In NINJA, it states that there are 4: child & dep. care/ adoption/ child tax credit/ residential energy credit.
However, Becker 2018, has additional – foreign tax credit & contributions to retirement plans. Can someone confirm which credits are applicable to AMT?
Thanks!!

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[se7en.14]

thanks! Tncincy & lcarito…this question flew over my head…

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[se7en.14]

In the current year, Jane won $6,000 in a state lottery. Jane also spent $300 on lottery tickets. Jane elected the standard deduction on her current year income tax return. The amount of lottery winnings that should be included in Jane’s current year taxable income is ___.
A: $6,000
————————————–
can someone explain to me why she cannot deduct the loss $300 because she is electing standard deduction?

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[se7en.14]

Are there 4 SIMs and 3 WC on each exam?

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[se7en.14]

Do both payback and discounted payback not take into account depreciation and salvage value?
Thanks

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[se7en.14]

we check in cpacentral nasba account right? maybe mine is delayed..

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[se7en.14]

anyone in NY get their score yet?

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[se7en.14]

do you guys have a status on your reg you took? mine doesnt say its received or anything. THe attendance date they have listed on my cpacentral is also incorrect…

Regulation
Code: REG
Score: n/a
Status:
Received:
Expire:

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[se7en.14]

for those planning to test 2020, do you know if there are any changes being made to BEC section?

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