[Ken]

Hi,

What is your advice for those who try to study basis for individual, partnership and also corporation? What is the best method to tackle this issue to prepare for the exam? I try to understand the concept, however, it seems that every case is different and there are always some exceptions for each rule. There seem to be only 1 general formula, though; there are always some special cases for each situation especially for partnership. I know it sounded kind of confused but I need a good advice of how to study this subject. Thank you so much for all REG Ninja out there. I‘ve tried to listen to youtube video, reseaech online resource but it seems that I still can’t grab the “ROOT” of the issue. (this is of course after reviewing the material in the Review Course Book.)

Please point me to a good direction. Enlightened me please!!!

REG : 62, 67, 81. Tick- Expire 01/02/2016
BEC : 72, 67,71,76. Tick Expire 10/25/2015
AUD : 60, 62, 62, 74(8/30) - 10/1/2015 - oh geez
FAR : 68, 64, 72(7/24) - 10/20/2015- oh geez

I am WHINING...

" Just take it without worrying about the 75. Man, that is not easy!"

[Anonymous]

I memorized the general basis formulas and then hit the NINJA MCQs to study for that portion of REG. I got plenty of them wrong when I first started but I had so many of them thrown at me that eventually I found them pretty easy to solve, even with different variables and situations presented.

[M.O.D.]

Basis is similar to book value: You start with cost and subtract depreciation.

Basis starts with cost and subtracts taxes paid on that cost.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[Author]

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