REG Study Group Q2 2015 - Page 66

  • Creator
    Topic
  • #192517
    jeff
    Keymaster

    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

Viewing 15 replies - 976 through 990 (of 3,544 total)
  • Author
    Replies
  • #678183
    Holly
    Participant

    A

    BEC - 79
    REG - 85
    AUD - 5/27/16

    #678184
    OnlyBelieve
    Participant

    Peterman25- Its A

    AUD - DONE
    BEC - DONE
    REG - 04/04
    FAR - 05/30

    #678185
    OnlyBelieve
    Participant

    A few observation about how certain deductions are treated with MFS.

    For estimated taxes, AGI limit of 150K reduces to 75K

    For individual loss, deduct $1,500 for MFS instead of $3,000

    For Sec 1244, ordinary loss is $50k , and 100K for MFJ.

    Any other?

    AUD - DONE
    BEC - DONE
    REG - 04/04
    FAR - 05/30

    #678186
    Gabe
    Member

    HR- Thanks. That makes sense. Would it be the same if it were non-liquidating? Since, it's his after distribution, he can do with it what he wants?

    AUD: 84
    BEC: 76
    FAR: 81
    REG: 4/3/15

    OK Candidate

    #678187
    Holly
    Participant

    @Gabe as soon as the property is distributed to him, the property becomes the taxpayer's property. I can't think of a situation where that wouldn't be the case.

    BEC - 79
    REG - 85
    AUD - 5/27/16

    #678188
    Gabe
    Member

    @HR thanks for your help. I don't know why this question trips me up so much lol.

    AUD: 84
    BEC: 76
    FAR: 81
    REG: 4/3/15

    OK Candidate

    #678189
    Holly
    Participant

    @Only thanks for the 1244 stock mention; that's one of those I would've forgotten.

    BEC - 79
    REG - 85
    AUD - 5/27/16

    #678190
    Anonymous
    Inactive

    Peterman: That's a confidence boosting question if I ever saw one.

    #678191
    s2sylvir
    Member

    @Gabe

    Just popping by to say good luck! Can't wait to see you pass :3

    BEC - PASS (79)
    AUD - PASS (63, 71, 74, 74, 83)
    REG - PASS (88)
    FAR - PASS (58, 89)

    Becker for all + FAR 10 Point Combo

    #678192
    Gabe
    Member

    Thanks @s2sylvir!! Appreciate it. Same to you with FAR 🙂

    AUD: 84
    BEC: 76
    FAR: 81
    REG: 4/3/15

    OK Candidate

    #678193
    Anonymous
    Inactive

    Reading over on a Facebook group that I'm a part of (it's been useless up to this point): One guy said he wishes he had studied Trusts harder. Everyone says that the Sims were created by Satan himself in an attempt to destroy mankind.

    #678194
    Gabe
    Member

    @angel- I think I'm in the same FB group…REG sims, in general, are horrible. I honestly don't think you can be completely prepared for them.

    AUD: 84
    BEC: 76
    FAR: 81
    REG: 4/3/15

    OK Candidate

    #678195
    Anonymous
    Inactive

    Yeah, I agree.

    I've been practicing Sims but I think it's going to come down to luck of the draw on exam day. And that's a terrible way to run an exam. By now they have to know that people think the sims are poorly worded and overly complicated. Just fix the damn things so that the test is fair.

    /rant off

    #678196
    Anonymous
    Inactive

    I'm working on my last Becker chapter now.. r4 should be done by saturday. My plan is to re-read the Becker book, do ninja mcq, becker sims and re-do all the becker mcq. I have my exam scheduled for 5/4 do you think a month is enough to get this done?

    #678197
    Gabe
    Member

    @cpa yes.

    @angel yes yes yes. “luck of the draw” seems to be the way of the Sims.

    AUD: 84
    BEC: 76
    FAR: 81
    REG: 4/3/15

    OK Candidate

Viewing 15 replies - 976 through 990 (of 3,544 total)
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