[jeff]

Welcome to the Q2 2015 CPA Exam Study Group for REG.

“Death and Taxes” – Individual Tax for the CPA Exam

Posted by Another71 on Monday, November 24, 2014

Free NINJA: https://www.another71.com/cpa-exam-study-plan/

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

[Anonymous]

oh that makes sense

[Anonymous]

@jstay, the question you posted says that the current E&P includes the effects of the distribution (the 50,000 gain). If I was to guess I would think the Becker question didn't say that, in which case you would have to add an additional 50,000.

[Anonymous]

what's unrealized gain on condemnation award? It's not in Roger's notes. Is that a difference between the old basis and the award received?

[jstay]

Becker says 200,000 because “a dividend paid in property other than money is taxable to individual to extent of FMV but not in excess of CEP & AEP. In this case the FMV of dividend is 200,000. it is taxable to the extent that lent had Cumulated E&P (60,000) and Accumulated E&P (125,000) plus any gain on the distribution itself (50,000) thus it is 200,000”

For 185,000 becker says “answer does not take into account gain generated on distribution”

[jstay]

ohhh i see, thanks peeps

[Anonymous]

I can't bare to look at another page in Becker or another mcq! I've had it with REG!! Yesterday, I was painting my nails and listening to blitz lol

[jstay]

@cpa8488 me too, i think ive come to the conclusion that this will be my last attempt at the CPA exams if i fail. i just cant bear to go through another 6,000+ questions…nor would i know where to get any more questions

[Tncincy]

Oh come on ninjas don't give up now…..besides you haven't taken the test yet. just reviewing the study sessions looks like you both will pass. And if not? try again. I can also understand being point blank tired. Take a breath go at it again later tonight. Just don't give up.

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

[Anonymous]

I've done 1700 ninja questions… 60 federal entities and about 300 blaw remain unseen but I'm just letting the adaptive learning do it's job. Trending at a 78%. Hope it's good enough to get me a pass. Last time I was trending between a 67-69%. Been studying since noon and took an hour break earlier. It's 8pm now I'm going to watch tv and relax. Maybe do more ninja questions before bed.

[Tncincy]

@cpa8488 Do You write notes while doing questions or do you simply roll through sets of 30? I think I am spending alot of time taking notes because I am unsure. So just wondering if I am spending too much time note taking or should I just roll through and take notes after the session?

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

[Anonymous]

jstay, isn't it your last exam?

[jstay]

potentially, assuming i pass

[jstay]

@tncincy, i always take notes while doing mcq however when im in the final week its a little less note taking (whether thats cuz im doing better on the mcq or im just lazy, i dont know)

[Anonymous]

If I get a question wrong usually I'll make notes about it. Also, when I'm listening to the lectures I pause and take notes. It takes a little longer but it helps w remembering. And then in the last week of review I usually go back and re read them.

[princeCPA]

Hi ninjas! please hit me with IRC Section 179 explanation. I always forget the rule and miss questions. Do you guys have easy way to remember it? Thanks!

BEC 79
FAR 86
AUD 79
REG 90

[Author]

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