REG Study Group Q1 2017 - Page 37

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  • January 8, 2017 at 12:09 am #1426577
    Tarheel83
    Participant

    Figured I would swing by and say hello. I have not read all of the messages, but you all have been busy already. I just finished studying for my first FAR retake and I just finished the exam on 1/7/17. Now, I have 4 weeks to study for REG, cram and hope that I can pull out a win (taking it for the first time on 2/4/17), then on to retake for BEC 3/6. Any pointers on REG?

    Best of luck to everyone!

    January 8, 2017 at 12:47 am #1426592
    Tony73085
    Participant

    New to the group. Took REG for first time in Nov. 2016 and underestimated the Sims and didn't get to finish the exam even though I did great in MCQ. Just took REG again today and I managed my time better and finished the whole exam. Hopefully I passed. Will take BEC within 3 weeks. Continuing the journey.

    January 8, 2017 at 2:05 am #1426619
    vorobjeva44
    Participant

    Hi guys! Is there anybody who used NINJA PLUS videos for REG? I used them for BEC and it kind of helped me, so I am looking for an opinion on REG section. Is it worth buying? Thanks!!! 🙂

    January 8, 2017 at 2:23 am #1426628
    jack yassa
    Participant

    @dtatham10
    Where is that on Becker book?

    January 8, 2017 at 10:49 am #1426706
    Anonymous
    Inactive

    Parent Corp. owns 15% of Sub Corp. Parent has gross income of $43,000 and allowable deductions of $39,000 before considering any dividends received deduction (DRD). Included in the $43,000 gross income is $8,000 in dividends from Sub.
    What is the maximum DRD available to Parent?

    Becker answer is 2800$. – 70% * 4000.

    ( lesser of 70% * 8000 or (43000-39000) * 70% – limitation)

    I thought if it creates NOL then allow the maximum which is 70% * 8000 = 5600$

      Can you guys help me on this. Thanks

    January 8, 2017 at 12:10 pm #1426763
    HoosierCPA
    Participant

    @esenthil what you said is correct. I would have chose the same answer as you. The DRD rules state the lesser of taxable income DRD or DRD. However IF when taking the DRD it creates a NOL then TI DRD is thrown out the window and you take the full DRD.

    Not sure why Becker has that answer. I must be missing something.

    FAR - 78
    REG - 72,74,71...please just go away REG nobody likes you!
    BEC - 82
    AUD - Aug 16

    January 8, 2017 at 12:50 pm #1426800
    Anonymous
    Inactive

    Thank you dtatham. I am not able to cut and paste the answer.I will try later.So when are you planning to take REG. I can see you have mastered the concepts.I know 74 hurts. All the best 🙂

    January 8, 2017 at 4:23 pm #1426977
    HoosierCPA
    Participant

    @esenthil I run in cycles. At times I feel like I have the concepts down great then a week later I'll feel like I have them all mixed up! It's scary.

    I'm trying to brush up on estate tax but there's not a ton in the Becker book on it. Can someone briefly explain the jist of the table in Becker on page R4-63

    FAR - 78
    REG - 72,74,71...please just go away REG nobody likes you!
    BEC - 82
    AUD - Aug 16

    January 8, 2017 at 4:35 pm #1426980
    JMG
    Participant

    For those who are using Becker, is there any way to access the sims directly or do you have to go into each practice section?

    January 8, 2017 at 4:54 pm #1426998
    isoceles
    Participant

    Questions:
    1) Is it true that Q1 tests 2016 material still? Specifically concerning on some of the tax stuff.
    2) I've done a bunch of NINJA MCQs and am looking to get another online based one. What are the more popular ones? I just want to do MCQs, not books, etc.

    Good luck to everyone!

    January 8, 2017 at 8:34 pm #1427138
    Anonymous
    Inactive

    @jmg at the end of the chapters there is a final review, there is a review for all the simulations.

    January 9, 2017 at 9:23 am #1427490
    HoosierCPA
    Participant

    @isoceles 1) yes that is true. I believe the new 2017 tax code gets introduced in the 3Q. 2) Purely MCQ's I Ninja is your best bang for your buck. I believe Becker offers something but I'm not familiar of a lot that offer solely the mcq's.

    FAR - 78
    REG - 72,74,71...please just go away REG nobody likes you!
    BEC - 82
    AUD - Aug 16

    January 9, 2017 at 9:33 am #1427502
    HoosierCPA
    Participant

    Lazy request. Does anyone have a breakdown of the Distributions and contributions of a Corp, S Corp, and Partnership? For instance a partners contributions in a partnership take on the basis of what it was to the partner and you subtract the portion of liabilities that the partnership assumes.

    FAR - 78
    REG - 72,74,71...please just go away REG nobody likes you!
    BEC - 82
    AUD - Aug 16

    January 9, 2017 at 11:29 am #1427592
    aatoural
    Participant

    Is this what you mean?

    https://i1150.photobucket.com/albums/o602/aatoural/Screen%20Shot%202017-01-09%20at%2011.23.51%20AM.png

    https://i1150.photobucket.com/albums/o602/aatoural/Screen%20Shot%202017-01-09%20at%2011.27.09%20AM.png

    BEC - PASSED
    AUD - 8/29/16
    FAR - TBS
    REG - TBS

    January 9, 2017 at 12:18 pm #1427523
    JMG
    Participant

    @alerito thanks!

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