[jeff]

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

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

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[RedRage00]

I am in the same boat as you whenindoubt….a weekend full of REG studying! Eww

Texas CPA
Licensed, March 2012

[hurley.120]

For the exams I have taken, I found Becker to be harder than the actual exam, so I felt very prepared. I've heard the exact opposite about REG, though.

Is that true?

FAR - 86
AUD - 90
REG - 79
BEC - 89

[yankeeaccountant]

@hurley,

I have only taken REG once (so far—hopefully second time is the charm!!) and I felt like the exam was more like the Wiley testbank questions. I don't think I would go so far as to say Becker is easier as much as I would say I just thought Wiley was more representative of the exam. They word the mcq's the same…at least to me it did.

UGH…Studying on a Friday night. This is getting old (not to mention, so am I !!!!) I am still fuzzy on the Alimony recapture. I feel like I have a good grasp on Individual Tax except for that. Now onto the next topic!

[shwagna816]

Hey guys,

Wanted to get your opinion on the following, as I think it's important, as some of you have said, to understand what exactly they could be asking for (particularly in Sims where a number of questions / pts would be riding on this understanding).

If you were asked to determine the correct amount of “income” and were given a few separate items (i.e. Income item – Gambling Winnings & Itemized Deduction – Gambling Losses) would you assume they are asking for:

A. Gross Income / AGI

B. Taxable Income (After Deductions)

BEC 88
FAR 89
REG 89
AUD 93

[snick722]

my guess would be AGI…

BEC - 65 (4/10), 83 (8/10)
AUD - 64 (10/10), 73 (2/11), 93 (8/11)
REG - 47 (7/09), 80 (10/11)
FAR - 84 (11/11) Texas. I'm done!!!

[Aldog]

test date : november 4th – next 3 weekends will be spent loving life in my study cave consistently doing mult choice over and over and over … i would say AGI too

rando question as i got confused thanks to cpareviewforfree.com:

when computed the new basis for a like kind exchange, the equation is:

Adjusted Basis of Old + Gain Recognized +Boot Paid – Boot Received….right? or is it – Boot Pd and + Boot Received? I had contradicting answers-questions, thanks

jummping into reg5-7 this weekend with @molldoll (i will win our little wager!) so well see how its goes…goodluck errybodyyy

201, NJ
FAR-75, AUD-82, BEC-82, REG-84 - CPAldog Official (well almost, hard parts over though!!!!!!!)

[shwagna816]

That's frustrating. It is too ambiguous, “income” could be AGI or taxable income – so they should really be more clear what they are asking for.

The first formula is correct: Adj Basis Old + Gain Recognized – Boot Received + Boot Paid

BEC 88
FAR 89
REG 89
AUD 93

[Anonymous]

@ Aldog re: Adjusted Basis of Old + Gain Recognized +Boot Paid – Boot Received….right? or is it – Boot Pd and + Boot Received?

You were correct the first time – Basis is computed as Adj. Basis + Gain Reconginzed + Boot Paid – Boot Received. If you were trying to compute the Realized value of the exchange then you would add the Boot Received and subtract the Boot Paid.

I am hating all this boot loot crud…lol

[yankeeaccountant]

@cpastooge

So am I !

[RedRage00]

I'm still pushing through REG. It doesn't seem as bad as FAR IMO. There are just a lot of tax rules I'm going to have to remember. I've gone through Individual tax, property transactions, and currently working on partnership tax MCQs in the Wiley book.

Texas CPA
Licensed, March 2012

[Anonymous]

I took the exam on Friday and thought I'd give a report as well. I'm in agreement with gottagetmycpa. Overall, a pretty basic exam. I did have a few calculations but not near as many as expected. 3 of the 6 simulations were doable, my research tab was ok and the other two were over the same topic which I hadnt studied at all and therefore guessed. I used Becker and Wiley online, the topic was in my Becker book but wasnt covered in the multiple choice questions. It was a basic, simple question. It just wasnt something I studied. I tried using the research tab but could not find anything on the topic. 🙁

As far as time management, I started the sims with 1 hr 32 min and didnt feel pressured for time. I didnt feel pressured for time in the MQ's etiher, I'm sure this was because there weren't many calculations.

I'd have to say I'm on the fence about passing. I didnt feel too bad about the MQ's but I didnt feel great about them either. And then the SIMs, well I'm just hoping one of the two I guessed on was pre-test! I really dont want to take that exam again!!!!!

Good luck to those of you studying for REG. Overall I'd have to say that it wasn't near as bad as I had expected after reading the horror stories from the last window. But again in agreement with gottagetmycpa, I was prepared for a more difficult exam and didnt study the basic stuff so I wont be surprised if I dont receive a passing score!

[gottagetmycpa]

@ANA9816 I feel validated!! HA. I think we might have gotten the same exam worst part is that if we failed we will probably will not get that simple of an exam again which makes is a double wammy!! was this your first exam?

FAR 76
REG 76(2x)
BEC FAILED (2x)
AUD FAILED (2x)

"When you don't give up, YOU CANNOT FAIL"

[Anonymous]

LOL! It was my first time to take REG but not my first exam, I passed FAR and AUD last window.

And yes I'm afraid of that too. I just said those exact words to my boss. If I fail and have to retake I'll probably concentrate more on the basics and get a test full of complicated calculations!!!

[yankeeaccountant]

@ana9816 and gottagetmycpa,

I hope I get that exam on November 1st!!!! The sims were rough when I took it last window. I was able to use the research tab, but wow, the research tab is sometimes so hard to interpret!

I am using the Yaeger cram. This time I am starting with the Wiley mcq's instead of starting with Becker. This way I will do all the Wiley testbank. I was going to buy the Gleim testbank, but I am unable since I have a mac. But I did purchase a Wiley (new) review with most recent released aicpa mcq's and sims. I hope that will help. I am on corporate tax. Listening to the lecture then doing mcq's. Feel like it is a slow process. I think this time I understand AMT much better.

good luck storming the castle guys!!

[Whenindoubt]

Me too, Me too! Can I have that exam? I had one last section where the SIMS were just atrocious! My score report showed it too, I ranked stronger everywhere except for the SIMS. I must have really bombed them.

I'm praying this time it goes better. Please and thank you!

BEC: 75 11/8/10
AUD: 89 2/22/11
FAR: 78 5/17/11
REG: 72, 83 10/17/11
DONE!!!!

[Author]

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