[jeff]

Welcome to the Q3 2016 CPA Exam Study Group for REG.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

[.]

@tncincy

Didn't you get an email from CPA Excel? When you log in you should be able to use the test bank. You know the page that says “My Products.”

FAR - June 2016 - 88
REG - July 2016 - 89
AUD - Aug 2016 - review phase currently
BEC - Sep 2016 -

Wiley CPA Excel & Ninja MCQ

[Tncincy]

yes I did….I'll go back and read it…thanks.

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

[csvirk]

For those having trouble with AMT. Here is the video of Jeff explnaning AMT.

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[Tncincy]

ohhh thank you

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

[Anonymous]

PANIC TIMME Tincincy – the mneumonic that saved my AMT life.

[Anonymous]

Love the printing funciton on NINJA mcqs – very handy.

[Tncincy]

that's good to know because these explanations are getting a little long….printing didn't come to my mind. Still good to know.

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

[Anonymous]

Why can't I print? At first, it was showing blocked or something then I clicked unblock or allow. I tried it again and then it was giving me a new window of NINJA interface/screen.

[csvirk]

The partnership of R and S had an ordinary loss during the current year of $10,000. R and S are general partners who actively and materially participate in the daily operations of the partnership. R and S share profits and losses equally. R had an adjusted basis of $4,000 for his interest before taking into account the current-year loss. On his personal tax return R may deduct:

A.
$5,000 ordinary loss.

B.
$5,000 capital loss.

C.
$4,000 ordinary loss and $1,000 capital loss.

D.
$4,000 ordinary loss.

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[Spartans92]

Im leaning towards D. Since they materially and actively participate and the loss is ordinary it will be considered ordinary loss.. However, his basis is only 4,000 which can't go below zero. The remaining 1k wouldn't be capital loss so C is not correct.

BEC- PASS

[csvirk]

@spartan You got it!

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[csvirk]

Apparently there are two threshold of IRA deductions. Can someone explain when to apply each threshold? I am so lost. Thank you

FAR: 71, 77!
AUD: 69, 80
BEC: 72
REG: 84

[Spartans92]

What r the two threshold? so i can refresh my memory lol. Thanks.

Not sure if anyone can answer but are we really suppose to remember all the types of property for MACRS. Like the 5 year property or 3 years and what it consists of such as van, computer, copiers, etc.

BEC- PASS

[.]

Are we going to get MACRS depreciation tables?

FAR - June 2016 - 88
REG - July 2016 - 89
AUD - Aug 2016 - review phase currently
BEC - Sep 2016 -

Wiley CPA Excel & Ninja MCQ

[CPA2BEE]

If you have to face a Depreciation question on the exam, I think it is about 99.99% possibility they will provide you with a depreciation table, especially on a SIM

FAR - 80
AUD - 82
BEC - 80
REG - 85

ETHICS - 90
EXPERIENCE - COMPLETE
Application for California license mailed 8/4/2016

[Author]

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