[Anonymous]

ok so for some reason, when i do the questions i get them right but i do not know how or why. When I read the explanations it just confuses me because the explanation is not explained in r3. There are some questions that just calculate gains in totally different ways compared to other ways (not the traditional fmv minus basis. Can anyone explain briefly the special circumstances in which there are different ways you have to calculate gains

[Son]

cpasucks23, are you talking about gains from the sale of assets? you need to be a bit more specific. if I were you I would start by working on getting a general picture to understand in what situations a corporation may recognize gains, and which transactions or events are tax-free (i.e., formation, operation, making distributions, liquidation).

AUD - passed
REG - passed
BEC - passed
FAR - passed

[Anonymous]

I was the same way and I went into REG my first time and failed because I didn't know WHY a gain/loss was recognized for any of the entities or the reasoning behind them etc. If you can distinguish between why you'd choose an S corp over a C corp over a partnership etc then you know your okay as far as federal taxation of entities

[Author]

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