REG – Exam Prep - Page 121

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  • July 15, 2012 at 9:49 pm #372640
    Anonymous
    Inactive

    @ Shay . its question no 01668 in R-1 for Capital loss/ Gain .

    If you have beker 211 material , its written on page 67 in first pass key. The purchasing relative base rules are equal as the gift tax rules. Somehow i was able to grasp your explanation much better. Thanks again !

    BTW – When are you taking the exam?

    @LetsGoCPAs – All the best for tomorrow , Just sit back , make a list what is included in AGI, Itemized deduction and then read your book.

    As far as itemized items only 5-7 things are included. It should not be hard to learn them:

    !) Health exp- 7.5%

    2)Taxes – (State, Loca and Foreign ) – Not federal.

    3) Int expense ( Learn Hippe nemonic)

    4) charity (50% cash & 30% fmv for long term property)

    5) casualtiy

    6) Mis – 2% for business exp only , personal is not included

    7) Other Mis – learn only one item – gambling loss

    July 16, 2012 at 3:22 am #372641
    Shay
    Member

    @Nam. I found it. I have 2012 edition. I haven't schedule it, but hoping to taking by end of this month. I usaully prepare myself first, then go take the exam.

    I am struggling with AMT adjustment and add-backs. (PANICTIMME) I just dont know when to add or subtract from taxable income. (question 02015, 05537, 06890)

    just my advice on tax problem. do as many MCQ as possible.

    @LetsGoCPAs If you are using Becker. Right next to header there is small box/chart that summarizes the list of topics covered under certain topics. For example, goto R2-10 top-right (Medical, Taxes, Interest, Charity Casualty, Misc I.D)

    July 16, 2012 at 3:42 am #372642
    LetsGoCPAs
    Member

    THX guys, Im up trying to get some last min memorizations in.

    AUD - 79
    FAR - 83
    BEC - 77 (borderline baby...its true!!)
    REG - 74 🙁 I know...sucks... retook it on Oct. 30th

    July 17, 2012 at 7:47 pm #372643
    Anonymous
    Inactive

    I'm using Becker 2011 to study REG. Can anyone tell me what, if any, are the major differences between the two? Thanks!

    July 18, 2012 at 7:02 pm #372644
    NapkinThief
    Member

    Is anyone making remotely passing grades when doing the H.W. questions for Becker?

    I'm only on R3, and I've already done BEC and AUD, and while one section of AUD was pretty annoying, I generally scored in the 80's for the H.W.'s. However, for REG I feel accomplished if I score a 70 on any of these. It's getting to the point where every time a question comes on the screen I just cringe because there seems to be an asinine amount of rules and exceptions, not even taking to account their wording (as if they really needed to try to make the material complicated?)

    At this point having trouble telling if this material is just exceptionally dry and boring (not to mention hard) or if I'm just insanely burnt out from studying lately… I have about 14 days before my exam and 5 more sections to cover – I'm not sure I can go through with it if it's all going to be like this.

    **Not knowing my score for AUD for another month is not helping**

    BEC - 89 (5/31/2012)
    AUD - 88 (7/02/2012)
    REG - 76 (7/31/2012)
    FAR - 83 (8/30/2012)

    "Amateurs practice until they can get it right. Professionals practice until they can't get it wrong."

    July 18, 2012 at 11:31 pm #372645
    Anonymous
    Inactive

    @Napkinthief, I am exactly in the same position. I was doing good till Individual taxation and was enjoying it! All of a sudden when i hit A3 bumper, my motivation and energy went down! I have dragged myself to finish the corporation tax but i am definitely going back to revise it. I finished Estate, trust and gift taxtion yesterday. (dull , boring and dry material)

    I think, i need fresh start so i am staring business law today. kinda getting nervous. I have 13 days left. My clock is ticking so i better be motivated.

    July 21, 2012 at 3:09 pm #372646
    Anonymous
    Inactive

    I am bit confused with this MCQ? Please help!

    Which of the following statements would not apply to written contract governed by the provision of the UCC sales article?

    a. the contract may involve the sale of personal property.

    b. the obligation of non – merchant may be different form those of merchant.

    c. the obligations of the parties must be performed in good faith.

    d. the contract must involve the sale of good for a price of $500 or more.

    July 21, 2012 at 4:45 pm #372647
    ty58527
    Participant

    I think the answer would be D. UCC applies to all sales of goods regardless of dollar amount so the way this question is worded would mean that D would be incorrect. Written contracts can be for any amount but MUST be used for amounts over $500.

    AUD - 93
    BEC - 85
    REG - 89
    FAR - 86

    I am DONE!!!!!!

    July 21, 2012 at 6:01 pm #372648
    Anonymous
    Inactive

    Nam,

    The answer to that question is D. Also, always look out for words like “must” in this situation. There is nothing in the UCC that says it must be $500.

    July 21, 2012 at 10:44 pm #372649
    MIA2CPA
    Member

    To all Becker 2012 users:

    Am I the only one who is having problems with the ebook in R3? It seems like the ebook pages tied to half the mcq are wrong. It's driving me nuts!

    BEC - 84
    AUD - 83
    FAR - 82
    REG - 81

    I'm DONE! CERTIFIED PARTY ANIMAL!

    July 22, 2012 at 11:08 pm #372650
    Anonymous
    Inactive

    @MIA2CPA I'm having the same issue, I even closed and re-open Becker software… Besides I'm having a hard time remembering all the rules of this sections, the software is not helping…

    July 22, 2012 at 11:45 pm #372651
    NapkinThief
    Member

    @MIA2CPA I just started on R6 today, and I've been wondering the same thing this entire time. Nearly every time I've tried to use the “literature” button to try to look up an answer it seems to throw me into an arguably random section.

    I've been under the assumption that it was showing me the right section and I just have a horrible grasp of the material…

    My exam is in 8 days and I still have3 of the sections to go (I've skipped the simulations). I severely underestimated how droll the material in REG is compared to other sections – its the equivalent of mental quicksand.

    BEC - 89 (5/31/2012)
    AUD - 88 (7/02/2012)
    REG - 76 (7/31/2012)
    FAR - 83 (8/30/2012)

    "Amateurs practice until they can get it right. Professionals practice until they can't get it wrong."

    July 23, 2012 at 3:01 am #372652
    Anonymous
    Inactive

    i am so frustrated after finishing business law , in each section I am scoring under 60% , i am so scared .

    As far as i remember , last time i got only few questions on business law. I am not sure , if its worth it to spend a lot of time on business law. I don't want to take any chance. So howz your experience after reading business law ? What study advice you would recommend on these topics?

    July 23, 2012 at 3:20 am #372653
    Anonymous
    Inactive

    So those of you who got 2012 becker material, can you confirm that below topics are still an ancillary materials in 2012?

    (a) Ethics and Professional responsibly in tax service

    (b) Federal tax procedures and legislation in tax service.

    Thanks so much!! 🙂

    July 23, 2012 at 3:40 am #372654
    Anonymous
    Inactive

    @ Nam: Nothing is anchilary in 2012, although 50 pages of professional responsibilities in tax services and federal judicial process are condensed in less-than-an-hour lecture.

    @ NapkinThief: I suggest you do at least the SIMs from Chapter 3 and 4. Brutal, but useful.

    ______________________________________________________

    AUD – 86

    BEC – 82

    REG – 8/1/12

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