[Melanie B]

Hi everyone,

Studying for my REG re-take on August 15th and having some trouble remembering the different basis rules and taxable amounts for entities. I cannot keep straight the differences between C corps, S corps, and partnerships when it comes to basis rules and taxable gains/losses for formations, distributions, and liquidations. Would anyone be able to summarize the differences or have any tips or tricks for remembering them? Anything would be great!

Thanks!

[Anonymous]

Melanie, I was a history major and I remember stories about people. What has helped me is learning the examples in the book, visualizing the different scenarios under which entities are created and what the different actors bring to the table. Even their faces and names. Maybe there is something in your experience that will give you a similar “hook.” Good luck studying.

[CS]

My only tip is to keep practicing MCQs covering all of those topics, but that's how I learn best. I tried to look at a summary (there are some good ones if you search the forum actually), but that never stuck with me.

[Author]

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