REG – Exam Prep - Page 54

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  • #371634
    Anonymous
    Inactive

    @aldog, same here….Since the 2011 software has the notes already highlighted, I haven't watched a lecture either. Even before, I was only watching them to obtain the highlighted sections—I am all notes/questions—lectures put me to sleep, especially when done by Tim and Pete.

    Sorry to hear you are a Mets fan…I am a lowly Padres fan myself but root for the Phils(my entire immediate family is from Philly) too as long as its not against SD. I am a diehard Eagles fan though(was raised that way)—so I guess we don't get along during football season. Alright, back to hammering out multiple choice questions until my eyes bleed!

    #371635
    killaking
    Participant

    won on the Yeager talk show eyyyyer!

    FAR: 7/17/10 missed exam FML reschedule 8/29/10-77 EPIC!
    REG: 5/31/11-73 SMH, 8/31/11-85
    BEC: 4/15/10-72 : retake 10/3/10-80
    AUD: 11/28/10-74, 02/27/11-71 FML, 8/1/11-80
    Ethics 10/22/22-80, retake 11/28/11 - 88

    #371636
    Anonymous
    Inactive

    Congrats, killaking!

    Good luck today kandis and BakedCPA!!!!!!

    #371637
    Anonymous
    Inactive

    Thanks Allyson. I am trying to do every little bit to give myself an edge today—got some good sleep, just had a good breakfast—now going to hit a few multiple choice just to exercise the brain a bit, then head over to prometric where I will sit in their parking lot and review my notes for about an hour or so until exam time. Much like the last time, I am feeling pretty prepared—yet preparing for the worst once I get in there. I am 90% sure I will walk out of the exam room feeling defeated, just the nature of this beast, hopefully this time around I am wrong though. I am sure I will be back on here with a recap of my traumatic experience later today, if I am not already at the bar!

    #371638
    Anonymous
    Inactive

    Is it sad that my biggest worries about this hurricane are

    1) The power/internet will go out and i won't be able to access my wiley test bank during the last few days before my exam

    2) The testing center will close (im scheduled to take Reg Tuesday 8/30 in Boston) and they won't let me take it this window… Anyone know the policy on this?

    Im just gonna admit it right now- we North-easterners aren't good with natural disasters…

    #371639
    Anonymous
    Inactive

    CPA Man Jr—I know in Q1 they extended the exam window for about a week due to weather(I believe when a lot states were getting pounded by snow). I would assume if a hurricane shuts down some testing centers they will likely do the same.

    #371640
    yankeeaccountant
    Participant

    Good luck Baked!!!!!!!

    #371641
    Anonymous
    Inactive

    Thanks Baked, glad i don't have to worry about that atleast. Good luck today, crush some sims.

    #371642
    Peanut
    Participant

    Good luck today Baked, kill the beast!

    AUD 81 (X4) Previous scores 59, 72, 72
    REG 80 (X3) Previous scores 59, 60
    FAR 75 (X2) Previous score 67
    BEC 79 (X2) Previous score 58

    #371643
    Anonymous
    Inactive

    Back from the beast. Not feeling very good/confident, but not necesarily feeling terrible. Time to use this forum to vent so that I can just get over it and begin the waiting process for scores.

    A decent amount of the multiple choice were fair, a solid chunk were shaky(topics I knew, only with a different twist that I never saw in my review), and then a few were like huh(didnt know the topic or never saw anything similar on my review). I felt like the first 6 in a row on testlet 1 were really shaky for me, I thought to myself “really Reg?! reaaaaaalllly!?”. Then I caught fire, or so I think, I feel like I finished off testlet 1 really strong. Testlet 2 came along and I sure hope it got harder—I have trouble telling the difference between hard/easy, but I know for dang sure I bombed testlet 2. Not necesarily hard questions in terms of the wording/topics, but hard in the sense that I just wasn't sure of the answer on a lot of them. Testlet 3 felt like an in between of 1 and 2, so again, I am hoping I really nailed testlet 1 and did well on testlet 3, and that testlet 2 did in fact get harder.

    The Sims were pretty tough yet not nearly as bad as last time. I will say that they covered pretty random topics—nonetheless about 4 of the topics were covered at least to some extent in Becker. One of the sims was very similar to one that I had on my last exam, and I still don't know if I got it right this time! I'd say I got partial credit on at least all of the sims except one—which wow am I kicking myself and cursing at myself for. The one sim I definitely bombed was covered more than any of the others in my review—but who was the genius who said “this topic won't be heavily tested and its too complex for me to try and learn/grasp in a limited amount of time, so ill just skim it and understand the big picture and hope for non detailed questions on it”—yeah that genius would be me! I know for certain I got no points on this sim, and the worst part is this one was definitely not pre-test. Again though—I feel like I picked up some points here and there on the sims, and I think I got the research question right, just hoping it was enough!

    The waiting game begins now, really hoping I passed and trying to remain optimistic, no sense in dwelling for the next few weeks, best of luck to those still yet to take REG this window….obviously I hope we all get good news in a few weeks.

    #371644
    Anonymous
    Inactive

    Hi everyone,

    Normally, the Dividend Received Deduction is equal to 70% (own 0-19.99%), 80% (own 20-79.99%), or 100% (own 80%+);

    However, I wanted to clarify the exception where you possibly multiply taxable income by the percentage instead of the actual dividend received by the percentage –

    1.) The exception comes into play if your taxable income < actual dividend received

    2.) If this is the case, you can only take the full 70,80,or 100% IF it creates a Loss or makes a Loss greater. If it doesn't create a loss, then you can still take the full 70,80,or 100%?

    Do I have that correct or am I getting confused? Thanks for your help!

    #371645
    Magayon
    Participant

    If it doesn't create a loss situation the limitation applies. The DRD is therefore based on the taxable income(not on the amt of dividends recieved).

    FAR: 7/3(87)
    BEC: 8/31(75)
    AUD: 11/15(81)
    REG: 8/31(83)
    I'M DONE!!!!!

    #371646
    rce_80
    Member

    @ Magayon & BakedCPA – thanks for your replies. I'll have to look into the the differences btw partnerships and corps before Wednesday. OMG the pressure of this last one…and my deadline of 18 months is up! I plan to write over 100 pages of notes today as Jeff has suggested. I hope this works/helps. It's not going to be fun. 🙁 I feel I should work questions out, though. Maybe when I begin to feel my wrist and fingers numb and about to fall off, I'll work questions — then switch back to writing notes when I feel my eye sight is becoming a blurr from staring at the screen…AND no I'm not 80 yrs old…only one year after the hilltop (30)!

    I'm sure I'll be up very late tonight thru Tuesday studying for Wednesday's exam. Good luck to everyone!

    rce

    #371647
    momo5
    Participant

    Hello all. I take my exam on Monday. I hope I'm ready for it. I have a quick quesiton. For questions that give you gambling losses and lottery wins, or vice versa, are they deductible against each other? Like gambling losses are only deductible upto gambling winnings. Do lottery wins count as gambling winnings against which gambling losses are deductible?

    Good luck to everyone else.

    Thanks.

    #371648
    tbergy
    Member

    Yes. You seem to be on the right track. You can only deduct gambling losses if you have gambling winnings. Losses can only be deducted against winnings. But remember, those losses are itemized deductions (NOT subject to the 2% floor). Also note, if you do not have any gambling winnings but you do have gambling losses, you can't deduct any of those losses because you have no winnings to deduct those losses against.

    Good luck! I take mine Tuesday. Ready to kill this exam.

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