[jeff]

Welcome to the Q1 2016 CPA Exam Study Group for REG.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

[Tncincy]

precap: If you have ninja notes or blitz it has a very good basis in partnership calculation and explanation.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[marqzho]

precap: Partnership is a relatively “easy” part in the REG exam and yet they are heavily tested. They are some points in the exam that you can't miss 🙂

REG 90
FAR 95
AUD 98
BEC 84

[marqzho]

@cpain2015

Trust :
We need to know more in order to answer the question. Let's throw in some more info.

1)assuming trust income is 10000, no trustee mgt fee, no charity, no capital gain:

——Beneficiary 1040——–DNI is $10000. DNI>Distribution, then $5000 would be taxable to individual. It will flow through by K-1 to beneficiary 1040.
——Trust 1041—————-$10000(trust income)-$5000(income distribution deduction)-$100(personal exemption for complex trust)= $4900 is trust taxable income

2)assuming trust income is 10000, all from capital gain, no trustee mgt fee, no charity, no tax exempt income.

—–Beneficiary 1040———DNI would be $0 since capital gain is excluded from calculation of DNI. Distribution of $5000 would be distribution of corpus. It will not tax on beneficiary individual tax.
——Trust 1041—————-$10000(trust income)-$0(income distribution deduction)-$100(personal exemption for complex trust)= $9900 is trust taxable income

REG 90
FAR 95
AUD 98
BEC 84

[marqzho]

@cpain2015

M-1:

Federal tax expense is a permanent difference. federal tax is not deductible on 1120.
We don't need to label the temp or perm difference on M-1 but M-3 which is required for large corporation.

REG 90
FAR 95
AUD 98
BEC 84

[Anonymous]

Where you guys are practicing the use of internal revenue code.like for FAR and AUD As we have the access to the AICPA Online Professional Library which is almost similar to what we have on exam, Do we have anything like that for REG ?

[Anonymous]

@CPAlife04 Thanks for sharing your study plan and it's very strong ,I am using Yaeger and it taking me longer to cover the lecture and the wiley book cover lots of details , I skipped the business law part other than securities law and I am still in individual taxation.
I want to keep myself motivated by knowing where others are , so that I pushed myself more .

[marqzho]

@Ano

try this

https://www.law.cornell.edu/uscode/text/26

REG 90
FAR 95
AUD 98
BEC 84

[sva_123]

Hoping to take REG at the end of January. I'm in!

AUD: Pass (July 2015)
BEC: Pass (Nov 2015)
REG: Pass (Feb 2016)
FAR: Pass (June 2016)
Ethics: 100%

Becker self study and Ninja 10 pt combo

[Sandywucd]

I'm in. Prepare to take exam in Feb.2016.

Where to find the updated stuff and information? Could you send me a link?
The notebooks what I read are 2014 version.

Thank you!

FAR: 81
BEC: 77
AUD: 77
REG: Feb.2016

[marqzho]

Sandywucd:

Take a look at this and get some idea. I don't think there is much change in REG beside those threshold and rate which is not a big deal.

REG 90
FAR 95
AUD 98
BEC 84

[Claudia408]

Hi guys. Anyone in this same situation? I am using Roger for REG and just finished the individual taxation lectures and book. So I started using Ninja MCQ and I feel like there's a lot of stuff not covered by Roger. Should I be worried? My scores are averaging high 60s.

BEC - 75 (3x)
AUD - 78 (3x)
REG - 67, 66, Aug 1
FAR - 54, Sept 8

[marqzho]

@Claudia408

Use Roger's lecture to understand the concept and then practice with Ninja MCQ is the best way to go 🙂

REG 90
FAR 95
AUD 98
BEC 84

[Anonymous]

hello eveyone
I am studying with the wiley 2015 january edition .I wanted to know that can I use 2015 book for january 2016 exam.
Thank you !!!!!!!!!

[Anonymous]

I did not pass REG! Score were released Nov 24th…..I am still expecting to receive my score info (pin-pointing my weak/stronger area) so, I can plan ahead for the next shot!
Has anyone experienced the same in here?

thanks

[mcohen1993]

Taking the exam Jan 29, kinda worried about the sims and whatever Becker does not go into. I purchased NINJA MCG and it seems to be helping me get over my fears. But its mostly law questions. Is the test somewhat heavy on the law? I've been getting mostly 80-95% on the tax questions but 60% on the law. Also how heavily tested is Security Regulations?

Also will it be clear what Bonus Depreciation or Section 179 rules we will be governed by? I know it was extended for 2015 but no Sims or MCQ have the new rules in place.

Is M-3 tested? I know the rules of when to file it from work experience (over 10 mill of assets or sales or entity owning majority interest). Will we be tested on filling it out at all??

REG: 91!!
BEC: 80!!
AUD: TBA
FAR: TBA

In the order I plan to take the exams.

[Author]

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