[jeff]

NINJA Study Notes, Flashcards, and Audio: https://www.another71.com/products-page/

Wiley Software: https://www.another71.com/wiley-cpa-software/

[momof4]

@major1330

Do you know if the information provided there is complete or only selected information?

BEC 84
FAR 80
AUD 85
REG 78

[Kim4]

Momof4, in my experience, the auth lit tab on the exam is the complete source. Unlike Wiley, which seems to just be selected info.

FAR -- 90
AUD -- 95
BEC -- 82
REG -- 92

DONE!

[Anonymous]

There are so many phaseout limitations. My head is going to explode.

[major1330]

@momof4 complete info

@dualmatrix phase outs are dumb. I hate tax

BEC: 5/30/12 - 92
FAR: 7/2/12 - 93
AUD: 7/23/12 - 94
REG: 8/13/12 - 88

[momof4]

It is so many details to memorize. I hope we can use the authoritative literature for the small details like that.

BEC 84
FAR 80
AUD 85
REG 78

[Anonymous]

This question is for anyone that has Becker 2012…..

In the first simulation for R3, question #3, when determining the TP's Basis the book and to my knowledge, the calculation to arrive to the basis is = NBV of asset given up+ boot paid- boot received +gain recognized-liabilities assumed by corp +liab assumed by the TP.

Now, in the simulation, the answer is saying to take the boot received and add it to the NBV.

Can someone please clarify this for me?

[Shay]

@Caris1116 both are correct.

Boot received is Gain Recognized (lessor of Realized gain or Boot Received)

Old Basics + Gain Recognized + Boot Paid – Boot Received ==Basics of T.P in New Property.

Mortgage assumed by Corporation is considered Boot Received, because someone is paying your mortgage.

[splinter1643]

Freaking out REG exam in 10 days…..did anyone using Wiley for REG think the online test bank was hard? It seemed to cover completely different things than what was in the book and what Becker covered and felt way more difficult than the questions for BEC and AUD. Also for those who passed, how did you score on the Wiley online practice questions?

CPA license in progress....

[hope2becpasoon]

Hey guys quick question- I'm taking REG next week and I'm wondering if there are a lot of computational questions or is it mostly just conceptual? There are so many specific rules/ exceptions to memorize it's crazy….

[Anonymous]

Yes ! There gona be lots of computation! Make sure taxation is your strong area!

Good Luck to all of us ..

[kcli1987]

i Am taking reg with in 4 hours which is the last ch in becker i should focus on sim ?

[Anonymous]

Dont Panic!!! Just relax!

Reviews your notes – concentrate more on taxation notes .i mean others are important too but review taxation(ind, corp & other)

Give your best in simulations even if you think that it was not covered in the material. I had horrible sims but still managed 81 . So be confident!!!!

GOOD LUCK!!!

[jokami]

I know someone may have asked this before… But I don't understand this: Organizational and Start-Up Costs.

The books stipulates that these two are two different amounts… 5K for Organizational and 5K for Start-Up Cost. It even mentions says: “each (EACH) amount is reduced by the amount by which the organizational expenditures and start-up costs exceeds $50K, respectively”.

Now when I do the math and in all the mcs they only eliminate one of the 5k…

What am I doing wrong? Is it 5K or 10K?

B - 62, 70, 72, 79!!!
A - 68, 81
R - 70, 82
F - 84

"The limit to your abilities is where you place them" - Fortune Cookies

[Anonymous]

Organizational is like printing of stock, underwriter fees… Which do not get expensed. They go against APIC.

Took me a few times to get this also.

[jokami]

Thanks Chris…

It still doesn't make sense to me.

B - 62, 70, 72, 79!!!
A - 68, 81
R - 70, 82
F - 84

"The limit to your abilities is where you place them" - Fortune Cookies

[Author]

Replies