[Anonymous]

I’m trying to memorize the Separately Stated Items for Partnerships and S Corps. I know most of them, but I’m trying to memorize ALL of them, but I always forget 1 or 2. Is there any mnemonic out there that will help me memorize these separately stated items?

I think this area is very important because it is a great target for tricky MCQs and brutal Sims. So, if anyone can help me here, I’d greatly appreciate it.

Thank you.

[porschify]

What I thought helped was going to irs.gov and obtaining a sch K-1 for a partnership and an S-Corp and studying those, as that is what they mean when they describe the term. Then during the exam I would try to visualize those schedules, instead of just trying to memorize words.

Hope that helps!

REG- 81
BEC- 72,76
AUD- 67,88
FAR- 78

Done!

[Anonymous]

Yeah, get the IRS forms, schedules and instructions and just get to know them. Free stuff 🙂

[Anonymous]

I know what the Separately Stated Items are. I was just wondering if any course uses a mnemonic to help with the memorization process.

[xzam20x]

Portfolio income (capital gains/losses, dividends)

Rental income

Ordinary income

Section 1231 gains and losses

Percentage depletion

Expense section 179 deduction

Charitable deductions

Tax exempt interest

Foreign income credit

this is what myself and a friend came up with to remember the separately stated items. Becker also has a good schedule for what separates 1065 & k-1

[Author]

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