REG Study Group Q1 2015 - Page 72

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  • January 20, 2015 at 12:55 am #652111
    Mika
    Participant

    @Gabe, good luck on ur exam!!! Thanks for your help here!

    REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
    FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
    BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
    AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

    January 20, 2015 at 1:13 am #652112
    Anonymous
    Inactive

    Does anyone know the 2014 holding period for S-Corp Built In Gains Tax? 2013 was 5 years, but it was set to revert to 10 years. Congress had a bill to extend in December, but I can't figure out what's current law…Anyone?

    January 20, 2015 at 2:02 am #652113
    Mika
    Participant

    @dg3989, it is 10 years now.

    REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
    FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
    BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
    AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

    January 20, 2015 at 3:08 am #652114
    Anonymous
    Inactive

    @Mika, thank you!

    January 20, 2015 at 4:37 am #652115
    Anonymous
    Inactive

    Edited: If NOL, DRD limitation does not apply.

    January 20, 2015 at 5:17 am #652116
    funtiks
    Participant

    anyone used roger or yaegar cram for this?

    Becker seems to just give the rules without explaining concept which makes me miss alot of points..

    FAR - 76*, 73, 85
    BEC - 69, 72, 78*, 80
    AUD - 72, 71, 90
    REG - 71, 74, 85

    AFTER 3 YEARS I'M DONE!!!

    January 20, 2015 at 11:16 am #652117
    Mika
    Participant

    When business equipment such as machinery that has been held for 12 months or less is sold at a gain, how is the gain reported for taxes?

    A.Ordinary gains

    B.Short-term capital gains

    C.Long-term capital gains

    D.Gains on collectibles

    REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
    FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
    BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
    AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

    January 20, 2015 at 11:33 am #652118
    Anonymous
    Inactive

    @ Mika – Is it B? Actually I am confused between A and B 🙁

    January 20, 2015 at 12:22 pm #652119
    sweetmoon
    Member

    A. Ordinary gain. Depreciable property sold on short term basis are treated as ordinary .

    FAR : 71, 83
    AUD : 73,88
    BEC : 87
    REG : sweet 82 and DONE !!

    January 20, 2015 at 12:43 pm #652120
    Mika
    Participant

    Correct Ans is A

    @ Cracked,

    Section 1231

    More than 1 year – Gain: Capital gain (1231); Loss: Ordinary Loss (either 1245/1250)

    Not Section 1231:

    Less than 1 year – Gain: Ordinary gain; Loss: Ordinary loss

    Section 1231 can be apply to both Section 1245 and Section 1250 assets.

    Section 1231 is reserved for LTCG. ONLY property held for longer than one year can reported as long term.

    REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
    FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
    BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
    AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

    January 20, 2015 at 2:22 pm #652121
    NJPRU
    Member

    Gaaaaaaaaaaaaaaaaaaaaaaaaaaaabeeeeeeeee!

    Good Lucky today! Best wishes!!

    AUD: DONE
    FAR: DONE
    BEC: DONE
    REG: DONE

    IM GOING TO BE A CPA!!!!!

    January 20, 2015 at 2:31 pm #652122
    Gabe
    Participant

    @NJ ahhhhhhhhhhhhhhhhhhhhhhhhhh Thanks! I take it late afternoon, so I'll report back when I can 🙂 Probably tonight after a glass of wine. Happy studying! I'll drop in and help when I can

    CPA, CFE
    CISA- Experience will be completed by August 2016

    January 20, 2015 at 2:33 pm #652123
    Gabe
    Participant

    @funtiks using NINJA as well as Becker. The MCQs have pretty lengthy explanations…use Google and this study group for the rest.

    CPA, CFE
    CISA- Experience will be completed by August 2016

    January 20, 2015 at 3:43 pm #652124
    Anonymous
    Inactive

    Final run before heading to testing center. Good luck to all those who are taking test today!

    January 20, 2015 at 3:49 pm #652125
    rachel525
    Member

    Gabe!! Good luck on your exam!! 🙂

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