[leebird]

I will take at month’s end. My question is the importance of all these concepts? Frankly, I am having a rough time fitting anymore information into the old brain right now. I need to know if this “stuff” has historically seen the light of day on exams?

Becker touches on it, with about 26 question in their Passmaster. May just go ahead and view the Wiley book as well, along with their Q & A

Time is ticking away. Any help without exam disclosures. I am sure Jeff is hunting us down like a Great White Shark! Ha, just poking fun at you Jeff

[NJCPA2B]

You definately should know those subjects. They are very important.

BEC=77, FAR=78, REG=73,74,80, AUD=70,69, 84 DONE!

[StudyInRI]

You do need to know about trusts, as it's possible to have a simulation requiring you to calculate DNI. The REG exam I took had incorporated quite a bit of this material, so don't “brush” over stuff. Know it!

REG - 97
BEC - 82
FAR - 86
AUD - 96 ... DONE!

[IxxxxTax]

I am a bit surprised. My understanding was that Estate Tax and GSTT had been repealed for 2010. The only remaining topic to be familiar with on this section as far as I understood was DNI and Gift taxation [assuming you take the exam end August through November.] … Could someone please confirm ? I was hoping not to have to learn the Estate tax complex formulas and rules..

The whole REG is really difficult and not knowing what needs to be studied just makes it worse..

Thanks for the clarification

[StudyInRI]

There are two estate taxes… There is the actual tax on the estate, which it wasn't repealed but there is just an unlimited exemption. There is also an estate tax on the income earned in the estate. It's very similar to trusts, so if you understand them, you should understand estates.

REG - 97
BEC - 82
FAR - 86
AUD - 96 ... DONE!

[IxxxxTax]

Thanks, I’ll keep that in mind when I hit the books tonight.

If I remember correctly, that means we still need to know :

– DNI

– Estate income Tax [Form 1041] (not Estate Tax [Form 706] .. not sure if that is clear..)

– Trust Income Tax

– Gift Tax (not GSTT)

[StudyInRI]

Correct. Remember the difference between a simple and complex trust too.

REG - 97
BEC - 82
FAR - 86
AUD - 96 ... DONE!

[IxxxxTax]

Thanks that helped a lot. I went through the material yesterday and it was a lot more understandable.

[Author]

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