[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

[kyu6]

Hi everyone, I have some problems while looking at the Ninja Notes.

ITEMS NOT DEDUCTIBLE ON SCHEDULE K

Ø Foreign Tax Paid

Ø Investment Interest Expense

Ø 179 Expense

Ø Charitable Contributions

ITEMS NOT COUNTED AS INCOME ON SCHEDULE K

Ø Passive Income

Ø Portfolio Income

Ø 1231 G/L

Are they referring to “ordinary income?” Because when I look at Sch K, these items ARE presented on the form. I'm not quite sure what these items mean!

GUARANTEED PAYMENTS

% Share of Ordinary Partnership Income (Loss) from K1

+ Guaranteed Payments

<% share of 179 expense>

= Self Employment Income subject to self-employment tax

Also, I thought % share of partnership income is counted as passive activity subjected to ordinary rates. Are they subjected to BOTH passive and self employment? I really hope someone can verify this information with me. Thank you so much in advance!

[kyu6]

Hi everyone, I have some problems while looking at the Ninja Notes.

ITEMS NOT DEDUCTIBLE ON SCHEDULE K

Ø Foreign Tax Paid

Ø Investment Interest Expense

Ø 179 Expense

Ø Charitable Contributions

ITEMS NOT COUNTED AS INCOME ON SCHEDULE K

Ø Passive Income

Ø Portfolio Income

Ø 1231 G/L

Are they referring to “ordinary income?” Because when I look at Sch K, these items ARE presented on the form. I'm not quite sure what these items mean!

GUARANTEED PAYMENTS

% Share of Ordinary Partnership Income (Loss) from K1

+ Guaranteed Payments

<% share of 179 expense>

= Self Employment Income subject to self-employment tax

Also, I thought % share of partnership income is counted as passive activity subjected to ordinary rates. Are they subjected to BOTH passive and self employment? I really hope someone can verify this information with me. Thank you so much in advance!

[gottapassb4b4]

Hey so this is going to be my first exam, scheduled for Oct 1. Right now I'm going through the lecture for R-7 in Becker, I've done all the homework up to this point and have been getting 90%+ on all the progress checks to this point. I'm pretty nervous since this is my first exam and I was wondering if it seems like I'm on track to be prepared come the first? Everything seems like it's kind of blending and mushing together at this point, any tips on what I should be doing once I complete the Becker lessons so that I have a better grasp on things? Thanks!

[gottapassb4b4]

Hey so this is going to be my first exam, scheduled for Oct 1. Right now I'm going through the lecture for R-7 in Becker, I've done all the homework up to this point and have been getting 90%+ on all the progress checks to this point. I'm pretty nervous since this is my first exam and I was wondering if it seems like I'm on track to be prepared come the first? Everything seems like it's kind of blending and mushing together at this point, any tips on what I should be doing once I complete the Becker lessons so that I have a better grasp on things? Thanks!

[JSK11]

gottapass,

Sounds like you are in good shape. This is my 4th exam. Passed BEC and Audit in July, waiting on FAR score from August. I am taking REG on Oct. 1 and I am just wrapping up R-1. I found that I work better on shorter time tables (about 20 days of studying for BEC and Audit each) than I did for FAR (35 days of studying).

With about 3 weeks to go, the progress tests on Becker are golden. I think the key is to not let the information you learned early on, become stale in your mind. The progress tests force you to continue seeing those questions from the earlier chapters. I've found that I have given myself a false sense of confidence when I nail MC questions from the earlier sections and then disregard them during my final review.

Good luck!

BEC- 85 (7/3)
AUD- 80 (7/15)
FAR- 8/29
REG- 10/1

[JSK11]

gottapass,

Sounds like you are in good shape. This is my 4th exam. Passed BEC and Audit in July, waiting on FAR score from August. I am taking REG on Oct. 1 and I am just wrapping up R-1. I found that I work better on shorter time tables (about 20 days of studying for BEC and Audit each) than I did for FAR (35 days of studying).

With about 3 weeks to go, the progress tests on Becker are golden. I think the key is to not let the information you learned early on, become stale in your mind. The progress tests force you to continue seeing those questions from the earlier chapters. I've found that I have given myself a false sense of confidence when I nail MC questions from the earlier sections and then disregard them during my final review.

Good luck!

BEC- 85 (7/3)
AUD- 80 (7/15)
FAR- 8/29
REG- 10/1

[teeteenounouche]

Signing in for REG in Nov…busy at work and home so need additional time to study, hoping to pass this one the first time 🙂

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]

Signing in for REG in Nov…busy at work and home so need additional time to study, hoping to pass this one the first time 🙂

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

[so1913]

Hey guys…I'm hoping to find out shortly that I passed FAR and REG will be up next for my last section! I took REG a little over a year ago and failed with a 70 (took over 6 weeks later with no motivation to study and scored lower with a 61). This techinically will be my 3rd attempt. I have one shot at passing before my AUD credit expires and expect to sit for it on11/12. Hopefully this time around will be successful.

AUD - 90 Pass
REG - 70,61,81 Pass DONE DONE DOOOOONNEEE!!!!!!!!
BEC - 79 - Pass
FAR - 70,82 - Pass

[so1913]

Hey guys…I'm hoping to find out shortly that I passed FAR and REG will be up next for my last section! I took REG a little over a year ago and failed with a 70 (took over 6 weeks later with no motivation to study and scored lower with a 61). This techinically will be my 3rd attempt. I have one shot at passing before my AUD credit expires and expect to sit for it on11/12. Hopefully this time around will be successful.

AUD - 90 Pass
REG - 70,61,81 Pass DONE DONE DOOOOONNEEE!!!!!!!!
BEC - 79 - Pass
FAR - 70,82 - Pass

[GodsSport]

Just got my REG score. Passed with a 88. I honestly can't believe I passed this section, much less got a decent score. This is my fourth section passed, so I'm done. My wife and I are still taking it in.

FAR 83
BEC 85
AUD 68, 93
REG I'm coming for you!

[GodsSport]

Just got my REG score. Passed with a 88. I honestly can't believe I passed this section, much less got a decent score. This is my fourth section passed, so I'm done. My wife and I are still taking it in.

FAR 83
BEC 85
AUD 68, 93
REG I'm coming for you!

[kudawudashuda]

@GodsSport How did you do on Audit?

REG = 58 (02-20-13), 75 (05-01-13)
AUD = 67 (05-29-13), 79 (08-29-13)
BEC = 83 (07-31-13)
FAR = 72 (10-29-13), 69 (02-27-14), 73 (04-16-14), 81(08-13-14)

Study Materials = Becker 2013 + Wiley Online Test Bank
(75%) On my Way to a CPA (minus the experience requirement)!

[kudawudashuda]

@GodsSport How did you do on Audit?

REG = 58 (02-20-13), 75 (05-01-13)
AUD = 67 (05-29-13), 79 (08-29-13)
BEC = 83 (07-31-13)
FAR = 72 (10-29-13), 69 (02-27-14), 73 (04-16-14), 81(08-13-14)

Study Materials = Becker 2013 + Wiley Online Test Bank
(75%) On my Way to a CPA (minus the experience requirement)!

[GodsSport]

Kuda… AUD was the only section I had to take twice. Got a 68 first time. Then took the “get angry” approach and got a 93 on the retry.

FAR 83
BEC 85
AUD 68, 93
REG I'm coming for you!

[Author]

Replies