[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

[Qlad]

I am all doubting Thomas today…. have a big confusion in Wiley online simulation ….number Reg sim 0001……

the question is about a corp. and we need to identify what kind of income it is….

in point 3 it asks :”gain on sale of unimproved land used for business parking lot held for 17 mnths” and the answer is Sec 1231 gain…..

In the same sim last question asks the same question again : gain on sale of unimproved land used as parking lot for business held for 9 mnths…and the answer is Ordinary income….why?

Also there is point 6 that asks : Casualty gain on personal residence held 10 years …( ithought it was a corp so i said “not includable”….but they say it is LTCG….i thought corp never had LTCG….

oh god….i am freaking out on how little i know….

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

I am all doubting Thomas today…. have a big confusion in Wiley online simulation ….number Reg sim 0001……

the question is about a corp. and we need to identify what kind of income it is….

in point 3 it asks :”gain on sale of unimproved land used for business parking lot held for 17 mnths” and the answer is Sec 1231 gain…..

In the same sim last question asks the same question again : gain on sale of unimproved land used as parking lot for business held for 9 mnths…and the answer is Ordinary income….why?

Also there is point 6 that asks : Casualty gain on personal residence held 10 years …( ithought it was a corp so i said “not includable”….but they say it is LTCG….i thought corp never had LTCG….

oh god….i am freaking out on how little i know….

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[foreverstudying]

@qlad 1231 property is real or business property held for more than one year. The second question that refers to the same land is only held for 9 months thereby making it ordinary. Hope that helps!

FAR - 70, 83
REG - 82
BEC - 78
AUD - 76

[foreverstudying]

@qlad 1231 property is real or business property held for more than one year. The second question that refers to the same land is only held for 9 months thereby making it ordinary. Hope that helps!

FAR - 70, 83
REG - 82
BEC - 78
AUD - 76

[Qlad]

@wro7…thank u ……atleast one puzzle solved…

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

@wro7…thank u ……atleast one puzzle solved…

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Kenada]

Good Luck gottapassb4b4!!! Thank you for helping in my REG questions 🙂

Its late now and so I will post some of my issues with Contract / Sales questions tomorrow 🙂

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

[Kenada]

Good Luck gottapassb4b4!!! Thank you for helping in my REG questions 🙂

Its late now and so I will post some of my issues with Contract / Sales questions tomorrow 🙂

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

[Anonymous]

Hi guys! I am having trouble understanding the C corpiration “Formation” taxation…. I pretty understood what's in the fisrt few pages of REG 3, but actually it sounds very confusing when it comes to MCQs and the simulations!! I found 2 MCQs in R3 with the correct answers not among the choices! I am also stuck on the 3rd sim of the 1st group…Just wanna know how Metchel's tax basis is $40,000 not $50,000. Please guys I need your help!

[Anonymous]

Hi guys! I am having trouble understanding the C corpiration “Formation” taxation…. I pretty understood what's in the fisrt few pages of REG 3, but actually it sounds very confusing when it comes to MCQs and the simulations!! I found 2 MCQs in R3 with the correct answers not among the choices! I am also stuck on the 3rd sim of the 1st group…Just wanna know how Metchel's tax basis is $40,000 not $50,000. Please guys I need your help!

[Kenada]

cpatexas87 – are you using Becker ? Is there a way you can copy paste the questions onto this site. The MCQ's ones that you are stuck on.

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

[Kenada]

cpatexas87 – are you using Becker ? Is there a way you can copy paste the questions onto this site. The MCQ's ones that you are stuck on.

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

[Qlad]

Wiley progress tests give me 60% …..and becker gives me 87%…… i can't figure out how bad/ good am i doing…..only thing i noticed is….. becker is more general in it's questions or choices…and wiley is very specific….and changes only very little in each option…..oh god….will i be tested like wiley in the exam ?????

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

Wiley progress tests give me 60% …..and becker gives me 87%…… i can't figure out how bad/ good am i doing…..only thing i noticed is….. becker is more general in it's questions or choices…and wiley is very specific….and changes only very little in each option…..oh god….will i be tested like wiley in the exam ?????

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Kenada]

I think Qlad you will be fine, Just keep practicing and work that Wiley Test bank until you start hitting over 75 🙂

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

[Author]

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