[jeff]

Welcome to the Q3 2017 CPA Exam Study Group for REG. 🙂

Introduce yourselves and let your fellow NINJAs know when you plan to take your REG exam.

The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

[CPAIn2018]

Thanks @ wannafree and @ Holly.

Just to reinforce your knowledge see also the following pdf link.Page 15, under Alimony Requirements.

https://www.irs.gov/pup/irs-pdf/p504.pdf“

[CPAIn2018]

Thanks @ wannafree and @ Holly.

Just to reinforce your knowledge see also the following pdf link.Page 15, under Alimony Requirements.

https://www.irs.gov/pup/irs-pdf/p504.pdf.

[Tyler23]

Tackling REG for the first time on July 8th. Non Stop studying until I pass the rest of these exams!

[Anonymous]

Nevermind – I figured it out. It's amazing what 8 hours of sleep does.

[Holly]

@drumstick when do you test? Sorry if I've already asked.

BEC - 79
REG - 85
AUD - 5/27/16

[wakefern58]

Hi All – Could someone clarify something for me with regards to “passive income”. I can't figure this out.

If a “limited partner” who does not materially participate in the partnership receives CAPITAL GAIN Income or Interest Income on his K-1 from the partnership, is this type of capital andd portfolio income considered “passive” because he is a limited partner? OR would only ordinary income from the partnership be considered passive?

[TXJAM]

Anyone have any tips for suspended passive losses? I always get mixed up on the formula.

[Julia]

What is the limit on passive activity loss if materially participate for MFJ?
Single is 25,000 .
Thank u

[Julia]

Hi,
I'm new to this. I found Becker books good for study. I like the details. I use ninja notes,audio and mcq for review and to get a “test” understanding of the material.
Everyone is differant. Some people get overwhelmed by the detail in Becker and prefer summary.

[Holly]

@wakefern58 I'm not there yet, but I think the “limited” parts applies to the partner's liability of loss; if you're a limited partner you can't be liable for loss past your contribution. Not sure that it change the type of income.

BEC - 79
REG - 85
AUD - 5/27/16

[Holly]

@Julia Wages Are you referring to the Mom and Pop rule? If so, married and single are the same, I believe. I don't think you get $25k per taxpayer if filing MFJ????

BEC - 79
REG - 85
AUD - 5/27/16

[Anonymous]

@Holly Sexton – Currently scheduled for 7/17. Ideally I would like to move it up a week but I don't know if it's in the cards at the moment.

[Julia]

@holly. Thank u. I thought maybe if MFJ was higher amount. I'm sticking to 25k only.

[Julia]

I'm very confused on ninja question #1550 category 6c4 entity transactions. I thought u always use book value not FMV.
Thank u for the help.

[Julia]

How do u treat a complete corp liquidation if land distributed has liability ?
Do u ignore it and only compare FMV and adj basis – and recognize a gain or loss?

[Author]

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