[jeff]

REG Resources:

Free REG Notes & Audio – https://www.another71.com/cpa-exam-study-plan

REG 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

REG Score Release: https://www.another71.com/cpa-exam-scores-results-release

[pacestud32]

Just took the exam. Hope I've passed. The simulations were terrible though.

Few questions I had problem with.

If I'm exchanging like kind property at 20K cost and I receive let's say boot 10K cash and a net relieve of liabilities also boot of 8K. What is my gain? And what's my basis?

[pacestud32]

Just took the exam. Hope I've passed. The simulations were terrible though.

Few questions I had problem with.

If I'm exchanging like kind property at 20K cost and I receive let's say boot 10K cash and a net relieve of liabilities also boot of 8K. What is my gain? And what's my basis?

[mags603]

i get confused on these…but what amount of liabilities is relieved?

[mags603]

i get confused on these…but what amount of liabilities is relieved?

[mags603]

I think it is your Basis – Boot Received + any Relieve of Liabilities for your new basis

I think the gain is Boot Received – Liabilities received

i think it also depends on what is recognized and what is realized but those throw me for a loop

[mags603]

I think it is your Basis – Boot Received + any Relieve of Liabilities for your new basis

I think the gain is Boot Received – Liabilities received

i think it also depends on what is recognized and what is realized but those throw me for a loop

[teeteenounouche]

I guess I am in this thread for Jan…I feel beat up and stomped on…I am not in a good place right now and I can't even fathom looking at the REG material again 🙁

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[teeteenounouche]

I guess I am in this thread for Jan…I feel beat up and stomped on…I am not in a good place right now and I can't even fathom looking at the REG material again 🙁

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[Anonymous]

@teeteenounouche I feel the same way. The thought of looking at taxes again makes me want to vomit!

[Anonymous]

@teeteenounouche I feel the same way. The thought of looking at taxes again makes me want to vomit!

[Anonymous]

@Jessica8926,

can you please post the entire problem?

[Anonymous]

@Jessica8926,

can you please post the entire problem?

[Anonymous]

@teeteenounouche

@ebimbo

right there with you. i read how a ton of people passed their exams today. for a lot of them, it was their last one. i just got 70 for REG and i can't fathom looking at it all over again:-(

someone, shoot me

[Anonymous]

@teeteenounouche

@ebimbo

right there with you. i read how a ton of people passed their exams today. for a lot of them, it was their last one. i just got 70 for REG and i can't fathom looking at it all over again:-(

someone, shoot me

[teeteenounouche]

Yes denver2013, I am trying to talk myself into reading notes tonight and retaking the exam on Jan 2 or 3…since we have to wait 48 hours to reschedule, I guess I have time to wallow in my misery…

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[Author]

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