[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

AUD - 79
BEC - 80
FAR - 76
REG - 92

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

[Theo]

@Soon2BCPA127 the mortgage is considered boot and included in the calculation of the realized gain. The recognized gain is the lower of boot received or the realized gain, which is why there is no gain recognized if boot is not involved.

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

[MustPass1988]

@Nevergiveup2012 my understanding is that the charitable contribution would decrease the P/S basis because it is a separately stated item. You have to add/subtract the partners share of the separately stated items as well.

AUD: PASSED [81]; Expired, retaking August 23rd
BEC: PASSED [83]; Expired, retaking July 11th
REG: PASSED [83]
FAR: FAILED [64]; Retaking May 23rd

[MustPass1988]

I'm taking REG in the morning and I am SO nervous. I have studied so hard and I still feel like I don't know enough. Praying that I don't get very many complex estate/trust tax questions because I didnt as much on those as I did on B-Law, C-Corp, P/S, and property transaction. Good luck to everyone taking REG tomorrow!!

AUD: PASSED [81]; Expired, retaking August 23rd
BEC: PASSED [83]; Expired, retaking July 11th
REG: PASSED [83]
FAR: FAILED [64]; Retaking May 23rd

[Princesseva]

I took the REG today and felt terrible. Because I had never completed a single full final exam before I took this real one, although I did around 2000 MCQ's but no simulations!! The PC version made me nervous and I just kept watching the time slipping, and I do not know how to do the research part…can anybody tell me where i can get the TBS to practice? specially in research part….thanks

[SeattleAccountant]

Becker Class of Jan - Aug 2013: FARB DONE!!!!
CPA license pending 🙂

[msmeyer]

@Soon2BCPA127 – I know your exam is today and I'm sending you TONS of positive energy. My apologies for not logging in and helping answer questions. I came down with the flu Tuesday night and the past 24 hours have been a blur. The fun fact here is that I was going to take the exam yesterday (Feb 27th) and took it Sunday instead when I was still perfectly fine. Wow!

BEC - 86
FAR - 76
AUD - 73, 86
REG - 61, 73, 82

DONE!!

CPA, CIA, CRMA

[lsutigers03]

My exam is 1 1/2 hours. Just finished my second Becker Final Exam. Got a 65 on the MC and a 72 on the SIMs :(. I can't remember the last time I was this nervous. Good luck to everyone taking the exam today.

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

[MustPass1988]

I took the exam this morning and honestly, it was not as bad as I was expecting. I knew a lot of it and there were some MCQ's that come out of nowhere. The sims, of course, were really hard- I probably didn't get a single one entirely correct (except the research one) but hopefully that won't kill my score.

AUD: PASSED [81]; Expired, retaking August 23rd
BEC: PASSED [83]; Expired, retaking July 11th
REG: PASSED [83]
FAR: FAILED [64]; Retaking May 23rd

[MustPass1988]

I took the exam this morning and honestly, it was not as bad as I was expecting. I knew a lot of it and there were some MCQ's that come out of nowhere. The sims, of course, were really hard- I probably didn't get a single one entirely correct (except the research one) but hopefully that won't kill my score.

AUD: PASSED [81]; Expired, retaking August 23rd
BEC: PASSED [83]; Expired, retaking July 11th
REG: PASSED [83]
FAR: FAILED [64]; Retaking May 23rd

[lsutigers03]

Are there pretest simulations?

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

[tncy]

I took my first exam-REG- in the morning. Honestly, the wiley is a good resource to study for this exam. I would say that the real questions came very familiar to me although i had this exam first time . I wish i could study a bit more on Trust and Estate.

[Tenkeyz]

I took Reg this week and had two research sims, anyone ever run across that? I felt like I answered them both correctly but I'm worried the examiners will throw one out. Anyways, now the waiting game…

B

A-77

R-fingers crossed

F

B-70 70 81!
A-77!
R-79!
F-67 73 69

[lsutigers03]

@Tenkeyz – I had two as well.

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

[Nevergiveup2012]

@mustpass1988 re: charitable contribution -p/s basis

Since charitable contribution is separately stated item, thus reducing p/s basis, does it mean charitable contribution isn't included in the ordinary net income/loss from the partnership? does it also mean that charitable contribution isn't a deductible expense for partnership but only a deduction for the partners?

BEC - 86 (8/31/12)
AUD - 97 (11/18/12)
REG - 83 (5/12/13)
FAR - 91 (12/2/13)
Done!!!

[Nevergiveup2012]

@mustpass1988 – I think I've answered my own question regarding charitable contribution through literature research.

You are correct that charitable contribution reduces partner's basis because it's a separately stated item and not included in the ordinary income/loss from partnership. As stated below, charitable contributions are not allowed to the partnership.

26 USC § 703 The taxable income of a partnership shall be computed in the same manner as in the case of an individual except that— the following deductions shall not be allowed to the partnership:

(C) the deduction for charitable contributions provided in section 170,

BEC - 86 (8/31/12)
AUD - 97 (11/18/12)
REG - 83 (5/12/13)
FAR - 91 (12/2/13)
Done!!!

[Author]

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