[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

[No_one]

I have started revising REG! Oh God, I am lost and feels like to run away somewhere. It's my last section my test is on 29th May and I just feel leave everything and elope somewhere…I dont know what to do with mental state…I am freaking out…Want to enjoy long weekend with my boys but can't due to this test…and just feel terrible…Trying to involve in studies but feels damm tough right now…never felt like this before…

CA Candidate
FAR: You are down...
Aud: Surprised me...Thanks
BEC: 75% work done
REG: It's 80 but I am 100% done 🙂

[No_one]

sorry about dumping my frustration here…I am not trying to derail anyone here from their study schedule…I am so sorry..

CA Candidate
FAR: You are down...
Aud: Surprised me...Thanks
BEC: 75% work done
REG: It's 80 but I am 100% done 🙂

[Tncincy]

NO_ONE we know how you feel. I felt like you this morning. Not because I have anywhere to go or too fascinated over the beautiful day to day, I just needed reassurance that 17 days is enough time if I keep hauling it. So like others said, I am letting the pressure drive me. Take a break if you need to but don't give up…..you've come too far.

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

[Anonymous]

@NO_ONE, you aren't alone. This section can be brutal. Especially when you start reviewing everything and you see the magnitude of it all. FAR is a lot of info but REG is a close second. I'm just hoping I get the right questions and get lucky on a few. Just want that 75 so I can put this thing in the rear-view.

[No_one]

@CTM looking at ur past scores and your contribution in this thread I have a strong feeling you will be free in no time…Trust me it is the last attempt of yours..Good luck for 15th.

@tncincy Whatever you said is true in mycase too, revising in 17 days and making sure to get 75 is the most haunting thought but when I am disturbed somehow I always miss spending time with my kiddo…Its been a really long journey..and when you have close to 3 year old who keep on asking mommy are you done? It's emotionally painful..Anyway I know we need to be on a track no matter what and keep encouraging each other until we go to PROMETRIC…

Good luck everyone.Thanks again for the support…

CA Candidate
FAR: You are down...
Aud: Surprised me...Thanks
BEC: 75% work done
REG: It's 80 but I am 100% done 🙂

[willpassby2014]

I am halfway with business law and not yet started revising Tax . Have done it once last month. Feeling nervous. I got it scheduled 29th at 6.30 PM. Thats the only time i got

BEC Passed
FAR Passed
AUD Passed
REG Passed

[Anonymous]

willpassby2014,

I am there too, prob not even 1/2 through blaw yet

[Anonymous]

just go on without me I'll only slow you down. Allergies make my really foggy and it's gonna last for next 2 weeks or so, there is no way

[No_one]

@Willpassby2014 we are in the same boat..same day test and last section…My credit start expiring from August..Reappearing this Rough REGulation part is giving me jitters…but don't worry keep posting..we have a saying in our culture…”You dont be nervous/scared I will be on your behalf” means you just do what you can do..right now..And I am just keeping my eyes close started breathing deep….this time this anxiety came way too early generally it comes during last week…

@Anjanja…your scores are impressive I am sure you will nail this one down…

Good thing about this is all of us will wait for score release at a same time 🙂

Keep studying…and keep helping…

CA Candidate
FAR: You are down...
Aud: Surprised me...Thanks
BEC: 75% work done
REG: It's 80 but I am 100% done 🙂

[willpassby2014]

@No_one ….Thank you . LOL…MY credit expires AUG15TH. AND I need to nail it this time. I am going to my home country June and July and will be back only on July 31….If i dont get it this time its going to be a tough take. Also i work in a big fortune 500 company in US so i get to study only 3 hours every day but utilizing every bit of weekend. Good luck to you also.

BEC Passed
FAR Passed
AUD Passed
REG Passed

[No_one]

@willpassby2014 How similar our stories are…My FAR credit expires 28th August…I am also going to my home country (India) after 4 years…and really dont want this test things in 3rd quarter want to be done..in this last and final attempt (in my head its last attempt) using every second…You have work I have Son who starts painting my Becker book whenever I am not around…

between which review material you are using?

CA Candidate
FAR: You are down...
Aud: Surprised me...Thanks
BEC: 75% work done
REG: It's 80 but I am 100% done 🙂

[willpassby2014]

I am using wiley text book , CPA excel , Ninja MCQ.

i am also going to India after 4 years……with my 2 year old son and daughter….LOL

BEC Passed
FAR Passed
AUD Passed
REG Passed

[No_one]

@Willpassby2014 Thats nice..Good luck for studies..and have a fun filled trip 🙂

CA Candidate
FAR: You are down...
Aud: Surprised me...Thanks
BEC: 75% work done
REG: It's 80 but I am 100% done 🙂

[Anonymous]

After a long and relaxing day I'm reviewing a few weak topics.. And I thought I had this topic down but I guess not

A exchanged a van for business tax basis is 20,000 for a new van. New van FMV is 10,000, and A also received 3,000 cash. What is A's tax basis in the new van?

Incorrect A. 20000

Correct B. 17000

C. 13000

D. 7000

Even though its asking about tax basis I start from the beginning

step one:

10,000+3,000= 13,000 amt realized

step two:

Amount recognized (lesser of amt realized or boot received)= 3,000

step three:

basis in new van= 20,000+3,000-3,000=20,000

[Anonymous]

probably because there is no gain

[Author]

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