[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for REG. 🙂

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[RE2PECT]

@dtatham10- I haven't come across a question like that, but I tried looking it up. Found something that explains this scenario.

https://www.nolo.com/legal-encyclopedia/taxes-when-you-convert-your-rental-property-your-personal-residence.html

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[HoosierCPA]

@re2pect ding ding ding. That's the exception to the rule I was looking for! Thank you! If originally used for rental purposes that's when you do the pro rata share.

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

[CPYay]

Good find re2pect. That was an evil question. I'll be studying a lot over the weekend (weekdays are limited), so I'll give more input if anyone posts questions.

[HoosierCPA]

This is my last weekend studying (hopefully forever). I feel prepared and hope the CPA Gods are on my side. The last weekend is always tough to know where to devote your time. I've spent quite a bit on Corp basis lately, I'm thinking of just doing a few hundred mcq's and mix in some gleim sims to finish this out. At this point its more about retaining information rather then learning new material. Please please please let me pass!

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

[jack yassa]

@dtatham10

Does Becker 2016(all versions) has any DRS by any chance?

[HoosierCPA]

@jack they have them, I can't reference where they are all at. I just stumbled across one on chapter 3 sim 3 #5

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

[jack yassa]

So what's the difference between 2016 and 2017?

[RE2PECT]

That question must be from Becker because I've seen just about every other question from Gleim, Roger, Wiley and Ninja lol.

@dtatham10- It's not likely you'll see something like that next week so don't drive yourself crazy over it this close to your exam.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[cpaMD86]

@dtatham10

That was a good question. I am fairly familiar with the rules on gain recognition with the sale of a home, but had definitely not encountered a question like that. My apologies for not getting to it.

FAR: 9/3

[norseman88]

@Jack Yassa – Don't worry about the DRS. As long as you have the concepts down, you will be fine on DRS. IMO, DRS is similar to MCQs. Way better than receiving a fill in the blank question.

[HoosierCPA]

@re2pect yeah I'm going with the no stress approach this final week. Trying to limit how much material I go through and stick to short mcq sets. I run into a lot of problems when I cram, that's when I tend to get concepts mixed up.

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

[jack yassa]

LOL what's IMO?

[cpaMD86]

IMO = In my Opinion

FAR: 9/3

[jack yassa]

@dtatham10
you killed me, i barely can follow up the TBS and now DRS, anyway thanks a lot for all your efforts i do owe you a lot. GOD bless you man.

[HoosierCPA]

@jack no problem. It's to both our benefits. Hopefully this is the last time I help ANYONE haha. If I have to take this damn thing again 2nd quarter I am going to go crazy, on top of that having to wait 10 weeks to anxiously wait and see if my FAR drops off will be the worst 10 weeks of my life. Trying to go into this exam calm is hard enough and having that in the back of my mind isn't helping! lol

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

[Author]

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