[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

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

[Anonymous]

@Igotthis, thanks….that's some relief 🙂

[Anonymous]

@Igotthis, thanks….that's some relief 🙂

[LSNYC]

Was studying last night, doing my MCQ feeling great! Then i decided to do one more set cause i was on a roll then a 63%! UGH!

Here goes a strong night or studying, must pass REG 3 weeks!

A - 61, 91!!
B - 78!
F - 76!!!
R - 71, 73, 74, 69, 77!!!!

Finally done!

This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

[LSNYC]

Was studying last night, doing my MCQ feeling great! Then i decided to do one more set cause i was on a roll then a 63%! UGH!

Here goes a strong night or studying, must pass REG 3 weeks!

A - 61, 91!!
B - 78!
F - 76!!!
R - 71, 73, 74, 69, 77!!!!

Finally done!

This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

[Anonymous]

Can someone please answer this. I noticed on the K1, is says unrecaptured Section 1250 gain. Why is it unrecaptured and not recaptured, which is the excess of MACRS over straight line for buidlings/real estate?

[Anonymous]

Can someone please answer this. I noticed on the K1, is says unrecaptured Section 1250 gain. Why is it unrecaptured and not recaptured, which is the excess of MACRS over straight line for buidlings/real estate?

[KRina]

@amelia.narine, section 1250 is for real properties in business and only recaptures the portion of depreciation taken in realt property which is in excess of straightline.This becomes ordinary income- the excess; I believe it is unrecaptued because it is The overall smount of the straight line depreciation taken. Only the accelerated depreciation in excess amount of the straight line is consider ordinary income.

Hope this makes sense if not, can some one please explain better?

[KRina]

@amelia.narine, section 1250 is for real properties in business and only recaptures the portion of depreciation taken in realt property which is in excess of straightline.This becomes ordinary income- the excess; I believe it is unrecaptued because it is The overall smount of the straight line depreciation taken. Only the accelerated depreciation in excess amount of the straight line is consider ordinary income.

Hope this makes sense if not, can some one please explain better?

[Igotthis]

Normally 1250 property that is recaptured is ordinary income which is taxed at the taxpayer's tax bracket.

Unrecaptured 1250 property is when the real estate was held for more than one year and only straight line depreciation was deducted making there no 1250 recapture. The 1231 gain represents the unrecaptured 1250 depreciation that is subject to maximum tax rate of 25% if LTCG.

[Igotthis]

Normally 1250 property that is recaptured is ordinary income which is taxed at the taxpayer's tax bracket.

Unrecaptured 1250 property is when the real estate was held for more than one year and only straight line depreciation was deducted making there no 1250 recapture. The 1231 gain represents the unrecaptured 1250 depreciation that is subject to maximum tax rate of 25% if LTCG.

[teeteenounouche]

@Igotthis, thanks…you should be a teacher because the way you explain is perfect! I am trying to find ways to remember all of the differences between 1231, 1250, 1245, 1221, it can get confusing.

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]

@Igotthis, thanks…you should be a teacher because the way you explain is perfect! I am trying to find ways to remember all of the differences between 1231, 1250, 1245, 1221, it can get confusing.

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

[marie22]

Hey everyone! I'm having a problem with a rental income question for an accrual basis TP. I know rental income is included in GI when received no matter for cash or accrual basis. But I'm having a hard time factoring in increases, decreases in rent receivables.

Say an accrual taxpayer receives X dollars of rent payments in 2012 and his rent receivables decrease from 2011-2012. The question I'm working on has the decrease in rent receivables subtracted from X to reach rent revenue for 2012.

Does this mean if the receivable balanced increased from 2011-2012, then that amount would be added to the rent payments in 2012?

Any explanation on this would be much appreciated 🙂

AUD: 91.
BEC: 69, 81
REG: 83 (expired), 79
FAR: 59, 77

I'M FINALLY DONE!!!!!

[marie22]

Hey everyone! I'm having a problem with a rental income question for an accrual basis TP. I know rental income is included in GI when received no matter for cash or accrual basis. But I'm having a hard time factoring in increases, decreases in rent receivables.

Say an accrual taxpayer receives X dollars of rent payments in 2012 and his rent receivables decrease from 2011-2012. The question I'm working on has the decrease in rent receivables subtracted from X to reach rent revenue for 2012.

Does this mean if the receivable balanced increased from 2011-2012, then that amount would be added to the rent payments in 2012?

Any explanation on this would be much appreciated 🙂

AUD: 91.
BEC: 69, 81
REG: 83 (expired), 79
FAR: 59, 77

I'M FINALLY DONE!!!!!

[Anonymous]

Thank you guys! So unrecaptured 1250 that goes on the K1 is just the regular straight line? And the amount that is recaptured as ordinary income is the excess of MACRS over straight line?

[Author]

Replies