[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

[Skrier]

Ok take two on partnership interest….If I understand this correctly, the inside basis is the partners share of the value of assets in the hands of the partnership. The outside basis is the value of the partners interest in the partnership itself. So if this is correct…then I would need to use the outside basis when determining the gain or loss when liquidating the partnership and ignore the inside basis. Is this correct??? Thanks!

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

[Kenada]

Hiya Skrier,

I haven't come to Partnerships as yet but I can give you like a flow and maybe it will help. I should be at partnerships tomorrow or Wednesday to review it. Just now doing a more detail review of Business stuctures and then moving on to Corps then partnership

Now mind you its not easy to do lines etc here so need a bit of imagination here

You start with your Initial Outside Bases

+ / – % Income/loss

– Subtract Distributions received from the partnership

+ Add Your % of the Liability

– Less Liabilities Contributed to P.S

Gives You your Ending outside Basis's

So in Partnership yous have to think that the basis is the risk that the partner has in the partnership

When you start with the initial basis you have to add or subtract elements that would affect your share of the partnership to give you your the end basis in the partnership.

Does this help ?

FAR 05/27/14; 786/110 - Done !

[Kenada]

Hiya Skrier,

I haven't come to Partnerships as yet but I can give you like a flow and maybe it will help. I should be at partnerships tomorrow or Wednesday to review it. Just now doing a more detail review of Business stuctures and then moving on to Corps then partnership

Now mind you its not easy to do lines etc here so need a bit of imagination here

You start with your Initial Outside Bases

+ / – % Income/loss

– Subtract Distributions received from the partnership

+ Add Your % of the Liability

– Less Liabilities Contributed to P.S

Gives You your Ending outside Basis's

So in Partnership yous have to think that the basis is the risk that the partner has in the partnership

When you start with the initial basis you have to add or subtract elements that would affect your share of the partnership to give you your the end basis in the partnership.

Does this help ?

FAR 05/27/14; 786/110 - Done !

[Anonymous]

Anyone else think the accounting for alimony recapture is ridiculous?

[Anonymous]

Anyone else think the accounting for alimony recapture is ridiculous?

[Kenada]

Davem – Yes . I asked for help a few pages back. Its not heavily tested so been told not to sweat about it. Just remember the basics about it and you should be fine 🙂

FAR 05/27/14; 786/110 - Done !

[Kenada]

Davem – Yes . I asked for help a few pages back. Its not heavily tested so been told not to sweat about it. Just remember the basics about it and you should be fine 🙂

FAR 05/27/14; 786/110 - Done !

[LSNYC]

I so not ready/motivated to start studying for this retake! I set everything up today, whatever that means. This is the last week I am letting myself slack! Saturday has to be a power day for me, try to get in a a good 4 hours to really kick of this studying I must pass in November!

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]

I so not ready/motivated to start studying for this retake! I set everything up today, whatever that means. This is the last week I am letting myself slack! Saturday has to be a power day for me, try to get in a a good 4 hours to really kick of this studying I must pass in November!

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!

[Kenada]

I understand how you feel LSNYC. I retaking REG is hard. We can do it, start with the topics' that came back as your weak areas. Go and practice some 20 mini questions on that topic.

See why you are not doing well. Then hit the books/lectures on the chapter and you will pick up things that you could have missed before.

Plus we are all here to help!

FAR 05/27/14; 786/110 - Done !

[Kenada]

I understand how you feel LSNYC. I retaking REG is hard. We can do it, start with the topics' that came back as your weak areas. Go and practice some 20 mini questions on that topic.

See why you are not doing well. Then hit the books/lectures on the chapter and you will pick up things that you could have missed before.

Plus we are all here to help!

FAR 05/27/14; 786/110 - Done !

[Skrier]

@insiyah24….yes your post is very helpful! I am not sure why I struggle with this part so much. It doesn't seem that difficult when someone else explains it. Thanks!

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

[Skrier]

@insiyah24….yes your post is very helpful! I am not sure why I struggle with this part so much. It doesn't seem that difficult when someone else explains it. Thanks!

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

[Kenada]

No problem 🙂 I am sure I will have questions of my own when i come to P.S. It is said to be very heavily tested on the exam.

Hopefully, we can all put our heads together and get really good at it 🙂

FAR 05/27/14; 786/110 - Done !

[Kenada]

No problem 🙂 I am sure I will have questions of my own when i come to P.S. It is said to be very heavily tested on the exam.

Hopefully, we can all put our heads together and get really good at it 🙂

FAR 05/27/14; 786/110 - Done !

[Author]

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