[TCav12579]

Hey everyone, I am lined up to take my second exam (REG) on 3/9. I am feeling pretty well prepared but there is one area I haven’t spent much time and am curious on what the community thinks. That is with the tax forms themselves and actually filling them out. Is this something that is heavily tested in the SIMS? I would hate to walk in to the exam and get hung up on something that could be avoided.

Any input is appreciated! Also, any other tips to help me knock this thing out/REG experiences from the last month?!?

Thanks in advance!

[Bourne]

From my experience, you do not need to know anything about the tax returns themselves. It may be helpful to look over the 1120 and 1065 to see where temporary/permanent differences are reconciled, what's included in income and where, etc. But from my exam experience, knowing how to fill out a tax form would not have been beneficial. Just don't underestimate blaw!

[TCav12579]

Thanks for the input! I can go ahead and not worry about that now haha.

B Law will be interesting, seems theres a lot to remember. Kind of sucks there is so much but small percentage of the test.

[aaronmo]

Agree with the above, although knowing the forms helps in other ways.

Lots of concept testing…dependents, phase outs…some depreciation. Like kind exchanges and boot. ANYTHING involving basis, contributions, distributions for the different entities.

[noor]

i would practice filling out tax forms, it definitely helps

[Anonymous]

If you have Ninja-do a couple of SIMS-theirs are specifically aimed at the tax forms and how they works. I agree that it actually helps to understand the concepts on a different level, but it's not like you will be asked to fill out a tax form on the test (that i know of).

[Author]

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