REG Study Group October November 2013 - Page 108

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  • October 9, 2013 at 8:14 pm #480849
    Future_FLCPA
    Member

    boot is the cash also received in the transfer

    B - 80 (Aug 2012)
    A - 89 (Jan 2013)
    F - 77 (May 2013)
    R - 83 (Nov 2013)

    October 9, 2013 at 8:15 pm #480822
    UCMCPA
    Member

    Cash or other property received; including the other party assuming any liabilities on the related asset.

    FAR - 84
    AUD - 94
    REG - 86
    BEC - 86

    October 9, 2013 at 8:15 pm #480851
    UCMCPA
    Member

    Cash or other property received; including the other party assuming any liabilities on the related asset.

    FAR - 84
    AUD - 94
    REG - 86
    BEC - 86

    October 9, 2013 at 10:52 pm #480824
    UCMCPA
    Member

    and a 75 on my 2nd final exam

    FAR - 84
    AUD - 94
    REG - 86
    BEC - 86

    October 9, 2013 at 10:52 pm #480853
    UCMCPA
    Member

    and a 75 on my 2nd final exam

    FAR - 84
    AUD - 94
    REG - 86
    BEC - 86

    October 9, 2013 at 11:21 pm #480826
    jpowell31
    Participant

    Section 179: Can someone give me an example with the updated numbers ($500k/$2Mil)? Sorry if this is silly I just find it easier for things to stick with examples confirmed in my head since I'm retaking REG and the old numbers keep taunting me. I know that anything over $2M reduces your deduction of $500k $ for $ but one of Becker's examples go like this with the old numbers:

    Deduction: $125k

    Purchases: $950k

    Max allowed: ($500k)

    Excess: ($450k)

    Allowable 179 ded. $0

    So would this go like this with the new numbers?:

    Deduction: $500k

    Purchases: $950k

    Max allowed: ($2M)

    Excess: ($1.050M)

    Allowable 179 ded. $0

    Or similarly:

    Deduction: $500k

    Purchases: $2.1M

    Max allowed:($2M)

    Excess: ($100k)

    Allowable 179 ded. $400k

    Thanks!

    October 9, 2013 at 11:21 pm #480855
    jpowell31
    Participant

    Section 179: Can someone give me an example with the updated numbers ($500k/$2Mil)? Sorry if this is silly I just find it easier for things to stick with examples confirmed in my head since I'm retaking REG and the old numbers keep taunting me. I know that anything over $2M reduces your deduction of $500k $ for $ but one of Becker's examples go like this with the old numbers:

    Deduction: $125k

    Purchases: $950k

    Max allowed: ($500k)

    Excess: ($450k)

    Allowable 179 ded. $0

    So would this go like this with the new numbers?:

    Deduction: $500k

    Purchases: $950k

    Max allowed: ($2M)

    Excess: ($1.050M)

    Allowable 179 ded. $0

    Or similarly:

    Deduction: $500k

    Purchases: $2.1M

    Max allowed:($2M)

    Excess: ($100k)

    Allowable 179 ded. $400k

    Thanks!

    October 9, 2013 at 11:24 pm #480828
    jpowell31
    Participant

    Ok so the formatting on that question didn't exactly come out how I wanted it to! Hopefully it makes sense to those of you well into your studies! Exams on Saturday so ironing out any kinks for no excuses entering the exam room!

    October 9, 2013 at 11:24 pm #480857
    jpowell31
    Participant

    Ok so the formatting on that question didn't exactly come out how I wanted it to! Hopefully it makes sense to those of you well into your studies! Exams on Saturday so ironing out any kinks for no excuses entering the exam room!

    October 9, 2013 at 11:40 pm #480830
    UCMCPA
    Member

    Deduction: $500k

    Purchases: $950k

    Max allowed: $2M

    Excess: 0

    Allowable 179 ded. $500k

    Or similarly:

    Deduction: $500k

    Purchases: $2.1M

    Max allowed:($2M)

    Excess: ($100k)

    Allowable 179 ded. $400k

    fixed it for you

    FAR - 84
    AUD - 94
    REG - 86
    BEC - 86

    October 9, 2013 at 11:40 pm #480859
    UCMCPA
    Member

    Deduction: $500k

    Purchases: $950k

    Max allowed: $2M

    Excess: 0

    Allowable 179 ded. $500k

    Or similarly:

    Deduction: $500k

    Purchases: $2.1M

    Max allowed:($2M)

    Excess: ($100k)

    Allowable 179 ded. $400k

    fixed it for you

    FAR - 84
    AUD - 94
    REG - 86
    BEC - 86

    October 9, 2013 at 11:44 pm #480832
    OCDisME
    Member

    @ jpowell31 Good luck on your exam…we test on the same day! And thanks for posting that question…I find it helpful because I really didn't see too may sec 179 practice questions.

    Becker Online - IL Candidate

    FAR: 85
    AUD: 85
    BEC: 78
    REG: 90

    October 9, 2013 at 11:44 pm #480861
    OCDisME
    Member

    @ jpowell31 Good luck on your exam…we test on the same day! And thanks for posting that question…I find it helpful because I really didn't see too may sec 179 practice questions.

    Becker Online - IL Candidate

    FAR: 85
    AUD: 85
    BEC: 78
    REG: 90

    October 10, 2013 at 12:25 am #480834
    Skrier
    Member

    Can someone explain the calculation for wash sale so I can understand it…

    AUD- 84
    FAR- 75
    REG- 78...I am DONE!!!
    BEC- 79

    October 10, 2013 at 12:25 am #480863
    Skrier
    Member

    Can someone explain the calculation for wash sale so I can understand it…

    AUD- 84
    FAR- 75
    REG- 78...I am DONE!!!
    BEC- 79

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