[jeff]

Resources:

Free Study Planner + REG NINJA Notes (Individual Tax): https://www.another71.com/cpa-exam-study-plan/

REG Exam Experience: https://www.another71.com/cpa-exam-forum/topic/reg-exam-experience-official-thread

[Anonymous]

@Soon2BCPA – I think it's saying that if the the coporation distributed appreciated property it would have to recognize a gain on the difference between the FMV and Adj. Basis (thus, increasing coporate earnings). If the corporation issued a cash dividend (instead of property) it would not recognize any gain. In either case, the shareholder's taxable dividend would not be different between cash received versus property received with FMV = amount of cash. Thus, the difference between issuing appreciated property instead of cash is answer B.

[Anonymous]

@rukus….at what point did u start using the wiley test bank? I was debating on using after I'm all the way thru the Becker material. I'll probably only have one weekend to review before testing.

[redox1100]

@Soon2BCPA127

Lets draw out both scenarios:

Scenario 1: Cash distribution

A. When C-corps issue a CASH dividend there is NO TAXABLE EVENT to the corporation

B. When an individual receives a dividend from Accumulated E+P from a C-corp -> TAXABLE EVENT @ FMV

Scenario 2: Distribution of appreciated property

A. When C-Corps distribute appreciated property it creates a TAXABLE EVENT to the extent FMV exceeds the NBV (the appreciation moves to E+P)

B. When an individual receives a property dividend from E+P from a C-corp -> TAXABLE EVENT @ FMV

……………THUS if we choose scenario 2, taxable income will INCREASE for BRISK and taxable income will have NO CHANGE for the individual shareholder. Answer B

[Rukus]

Caddygirl7, I review for 2 weeks for each exam. I do a minimum of 90 MCQs from Wiley, plus reading ninja notes everyday for those 2 weeks. I started my final review today (Monday) and my test is scheduled for 2-8-13 (about 2 weeks).

FAR - 81 (8/31/12)
AUD - 93 (10/19/12)
BEC - 79 (11/27/12)
REG - 92 (2/8/13) DONE! All 1st attempt!

[Rukus]

My first day and a half of reviewing, and so far Wiley test bank is kicking my butt on BLaw. Are there really as many BLaw questions on the real exam as Wiley throws at you in a 30 question practice session? It seems like there are more BLaw questions than tax questions!? I think it may be because there are more individual “topics” for law than for tax, so you get a question or two from every topic.

Anyway, I definitely have some work to do; overall, I'm only getting about 65% correct, but my progress chart shows all tax topics above 80% and most BLaw topics 38%-75% (yikes).

FAR - 81 (8/31/12)
AUD - 93 (10/19/12)
BEC - 79 (11/27/12)
REG - 92 (2/8/13) DONE! All 1st attempt!

[joyce.wl]

I did heard from some of my classmates saying that they got more Blaw MCQ. I am so confused, because I always did pretty bad on Blaw part. Obviously, Becker does not cover all the details.

[Anonymous]

@rukus. Thanks. So for the all the weeks prior to your review, you just stick 100% within the regular program? THat's kind of what I have thought about doing. My memory is pretty good, so I feel like I can memorize the answer to a question even if I dont understand the concept. Not sure how much good it will do to go over the same questions three or four times.

I work in tax and tested upper 90% on R1-R4….business law might be my downfall. I've heard more and more people say its heavily tested.

[Rukus]

Caddygirl7, I am using Yaeger review which uses wiley materials, so I just watch all the lectures and take notes, first. Then, I do all the MCQs assigned by Yaeger out of the Wiley book, then to answer your question, yes. I don't touch Wiley test bank until my final review. So, the last two weeks leading up to my exam is all Wiley test bank and ninja notes. This is Jeff's ninja plan, except I don't rewrite notes.

FAR - 81 (8/31/12)
AUD - 93 (10/19/12)
BEC - 79 (11/27/12)
REG - 92 (2/8/13) DONE! All 1st attempt!

[whatamidoing]

@eyeontheprize – REG will test 2012 amounts until June when they'll begin to test for 2013 amounts and the latest changes to the tax code implemented by Congress on December 31st.

F - 85 (11/2012)
R - 87 (1/2013)
A - 92 (2/2013)
B - 90 (4/2013)

DONE!

[lsutigers03]

On my first try of going through the Becker MC I'm getting around 72% correct over all. My lowest was 68% on Corp tax. I felt completely lost throughout the entire class. I know I need to bring it up but for those that have passed is this a decent first score?

REG - 78
BEC - 74, 67, 69, 69, 70, 79
FAR - 76
AUD - 69, 69, 69, 74, 85

Licensed Louisiana CPA

“You never fail until you stop trying.”
― Albert Einstein

[Urajimiru]

I am just so glad that I bought the Wiley Testbank on Regulation. I can definitely attest that the Wiley material is very good supplement for my cpaexcel, as I find all basic concepts I learned from using cpaexcel being heavily tested through Wiley's tricky law and ethics questions. I am due to sit for my last part on 19 Feb in Bahrain. Good luck to everyone taking the Reg exam this month.

Former International Candidate now certified under Colorado License no. 31247

Thank You, God!!!!

[nier06]

What differentiates Sec 1231 property from Sec 1245 property from Sec 1250 property from Sec 291 property??

AUD - Apr '12 - 76
FAR - Aug '12 - 79
BEC - Nov '12 - 74, Jan '13 - 82!!
REG - Feb 28, 2013 - 74, Apr 18th - 74, July 6th - 76!!
Really?? 3 74's?

CPA - October 2013

[Anonymous]

nier06: check this out, it might help > https://www.youtube.com/watch?v=90tfQc7_P9Q

[KMartin]

@nier06 Most books I have read say Sec 1231 property is anything NOT considered a capital asset. How vague, right? To me 1231 assets are used in a trade or business and have been held for at least a year but NOT inventory. 1245 and 1250 are really “recaptured depreciation” expenses. The gains/losses are considered ordinary income. Hope some of this helps!

[Theo]

My question is to those who have already taken REG. I am listening to the Wiley audios for REG and it keeps referring to publication 17 being included in the AL for the exam. However, I don't see it when I'm doing the Becker sims. I would like to know whether it will actually be there on exam day.

Also, is it me or does becker include only the part of the literature necessary for the Research component of the sims? (wrong path????!!!)

AUD 01/17/2013 (92)
REG 02/28/2013 (85)
FAR 04/26/2013 (85)
BEC 05/30/2013 (88)

[Author]

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