[jeff]

REG Study Group Links and Resources:

1. NINJA Monthly – $67 REG Course
2. Free REG Notes
3. REG Course Comparison
4. How to Pass REG (with NINJA)
5. How to Pass REG (in 20 Days)
6. How to Pass REG (after Failing)

See Also:

• FAR Study Group
• AUD Study Group
• REG Study Group
• BEC Study Group

[Michelle1605]

Hey BryGuy, so did you feel ok about the overall exam? Would you say it was more difficult or about the same as last quarter?

[BryGuy]

Hi Michelle1605,

I feel pretty good about it. I definitely felt like it was slightly easier than last quarter, but that is probably just because it is my second time taking it and I just felt way more comfortable with the content and types of questions. I wish I could give more information about the exam but I am totally blanking on a lot of the questions and sims.

[74phoenix]

Feeling so defeated and unmotivated even though I HAVE TO PASS REG!! I bought Ninja $67/a month for a change of “scenery” because I am not engaged and do not like Becker anymore…

Graduated 05/2016.
NY CPA Candidate.
Public accounting.
FAR COMING UP 07/07/2016 !! GOD HELP ME.

[Tncincy]

@74phoenix, Hang in there. We're all battling discouragement and non-motivation. But I feel better when my scores in crease or I am able to go over the notes and understand what's going on. I'm ready for it ALL to come together. I have 32 days left, so I am turning it up tonight forward. Maybe even, do some late nighters or very early mornings. If you guys want to start a power week end let me know. I am getting that 100 mcq's not matter if I get them all wrong. I am doing 20 questions per round. maybe I need to do 10 per round. Open for suggestions.
Monday is the last day of tax season, so I'm ready!

It begins with a 75
Been here too long as a cheerleader....ready to pass

[CH89]

@Tncincy – Nothing wrong with getting some MCQs wrong, at least you are learning from those. I always tend to do MCQs in sets of 10s, I find it easier to go through the information. Good luck!

[CH89]

You have one more exam to go! You got this! I hope Ninja gives you that extra jolt of energy to keep on going. We are all cheering and rooting for you! You are going to crush this exam!

[12tang]

Why are they using the maximum allowed amount when he only has 20k in losses? I answered A…

Anscomb is an employee who also solely owns and actively participates in a rental activity which produced a $20,000 loss in the current year. Anscomb’s W2 income in the current year is $115,000. Considering only the foregoing facts, what should Anscomb’s adjusted gross income be for the current year?

A.$102,500 [21%]
B.$107,500 [9%]
C.$115,000 [15%]
D.$97,500 [56%]
Explanation
Choices D (Correct) and A, B, C (Incorrect):
As an active participant, a taxpayer may deduct losses from rental activities up to a maximum amount of $25,000, with the maximum reduced by 50% of the taxpayer’s adjusted gross income (AGI) in excess of $100,000. Since Anscomb’s W-2 income is $115,000, the maximum Anscomb may deduct is $25,000 – ½ ($115,000 – $100,000), or $17,500. This would give Anscomb an AGI of $115,000 – $17,500, or $97,500.

Using Becker self-study
FAR: (82) 175 hours - 1st attempt
BEC: (XX)
AUD: (69) 45hrs of study - 1st attempt
REG: (XX)

[CH89]

That's interesting. I went through my review course, and their example had it set up the same way, TP only had $20,000 loss, but used the $25,000 in the calculation above. I am definitely going to dig deeper into this. My only thought of using the maximum amount is to help produce the maximum loss allowed to the extent of the actual loss incurred. If you find any answers, please share!

[Tncincy]

I'm finishing up tax returns for pick up tomorrow and decided to peek at the group. lol The above explanation is interesting. I would not have thought to use the $25,000 max. I think I'm going to write it down in case I don't see it again. Good question and good information. Study hard guys. I'll be jumping in within a few hours. Lord tax season is almost over.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Tncincy]

Hey Ninja's, I hope study is going well today. I had a rough day yesterday, I assumed I would have enough energy to study after doing returns all day yesterday. But I didn't get to do any mcq's, I did play my reg audio all day…some of my clients were listening attentively as they picked up their returns. Along day today as well. But I'm going to jump right in A.S.A.P. Keep studying hard guys, and post some more of those head scratching questions in the meantime.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Stonelotus]

Hello,

I read some thread and noted that there is a sample test on AICPA website. However, when I checked out, there are only 5 questions available. Any thoughts on this?

[74phoenix]

@Stonelotus true! They do not release many.

Need help guys – shareholder distribution vs shareholder basis – what is the difference? What do they really mean in simple terms?

Shareholder distribution = FMV of property + cash – liability assumed.
Shareholder basis = FMV of property + Cash received but NOT reduced by attached liability.

Graduated 05/2016.
NY CPA Candidate.
Public accounting.
FAR COMING UP 07/07/2016 !! GOD HELP ME.

[CH89]

@Stonelotus – It is not many, I think there's 2 SIMs per testlet which is pretty nice. I think it does a fair job in giving you that first hand experience of what to expect come exam day, obviously not from a question perspective.

[CH89]

@74phoenix – I'm not entirely sure what you are asking? Would you be able to clarify? Are you referring to a Corporation making a distribution and a shareholder transferring property?

Also – When calculating a shareholder's basis, you shouldn't be using the FMV of the property, you should be using the Adjusted Basis of the property. Distributions from Corporations would be using the FMV of the property.

[Stonelotus]

guys,

I just took REG today. It was hard, yes. There is not a lot of calculation or limitation. I was so confident with the 1st testlet, the 2nd is harder
I could not find the IRC though, spent 10 – 15 mins on it and passed. I also failed on 1 SIM 🙁
Just wait for the result

[Author]

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