[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

[Spartans92]

That makes me feel A LOT BETTER ^^^ Thanks.

BEC- PASS

[Anonymous]

you mean IRA contribution deduction of $5500 and, if you're over 50yo then its $6500?

[CPA2BEE]

Alright guys, I've been studying through this morning, test is tomorrow and I am trying to figure out whether to keep cranking MCQs or take it easy and rest my brain for tomorrow. Since I've reset my NINJA MCQs from last time, I am averaging 86% and trending 94.67% after 3039 questions (including reset, I have done probably about 10,000 NINJA MCQs). I know those stats are good, but my first REG exam I was average 80% and trending 85% after about 4500 MCQs and got a 74 so I'm not too reliant on stats.

I am feeling relatively calm going into tomorrow, what do you guys think? I almost think it might be a good idea to not push too hard today and go into tomorrow fresh

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

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

[Anonymous]

LOL. I swear I didn't see your last post before I just posted my survey.

Me I'm still trending in the 70's – though I've been at it for awhile – different test bank, we'll see if it matters.

BTW, trending in the 90's – I though you said you sucked at business law – I feel betrayed! You should only be able to say you suck if you're trending below 80.

[CPA2BEE]

@CPA here is the breakdown of my stats, I still totally suck at BLaw…

Ethics/Professional/Legal Responsibilities 96% 100%
Business Law 69% 76%
Federal Tax Process, Procedures, Accounting, an… 95% 100%
Federal Taxation of Property Transactions 94% 100%
Federal Taxation of Individuals 90% 93%
Federal Taxation of Entities 89% 99%

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

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

[CPA2BEE]

Also @CPA when is your exam date?

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

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

[Anonymous]

I just hit a wall – which I haven't done before – CPA 2B I will be joining you tomorrow. My goal was to not be joining other people in September, but that may not be the case.

I need to get my energy back here – trying to decide whether to take an hour off or just pack everything up and go watch episodes of the Office.

[CPA2BEE]

I have been taking it fairly easy today. Studied some in the morning and have just been watching movies since. At least for me, when I hit a wall information starts to get clustered and I start missing things I should know. The last thing I want is to carry that cluster into tomorrow, so I have kept things simple and clear today. But part of me wants to go all out on the last day lol

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

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

[Anonymous]

Yeah I still can't seem to get certain topics down and I'm behaving as though those are the most important thing on the exam and they aren't. Plus I'm answering things wrong that I got right before. I haven't had this experience before, but I don't think I worked quite as obcessively on the other parts – perhaps that has backfired on me. I keep doing questions though and you end up thinking – I got that wrong – but now I see why and it's lucky I looked at that …..

I just keep wondering how I ended up here – I thought this was going to be a week of breezy, easy review before the exam.

[csvirk]

Good Luck CPA2bee and CPA2021.

Flowers, a married taxpayer, purchased an annuity for $64,400 that will pay $700 per month over the life of Flowers and Flowers' spouse. At the time of purchase the couple's joint life expectancy was 23 years. Flowers received payment beginning April 1, year 1, amounting to $6,300 in the first year of the annuity contract. How much is includible in Flowers' gross income in the first year?

A.
$0

B.
$2,100

C.
$4,200

D.
$6,300

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

[LaidBackCPA]

@csvirk, is the answer c?

FAR: 76 (4/2/2016)
REG: 64 (6/10/2016); 78 (7/12/16)
AUD: (9/2/2016)
BEC: (10/3/2016)

Studying for these exams with no accounting experience!

[csvirk]

@laidback. Yes correct answer is C.

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

[Teal]

Hello everyone!

Excited to be here with my first time with NINJA. I had been trying Roger and it wasn't working out for me, so I hope this goes better! Good luck with your studies and I will be sure to ask some questions soon 🙂

FAR- August 2016 (66, 68)
REG- July 2016 (66)
AUD- TBD (66 – at least I'm consistent!)
BEC- TBD

FAR (66,68) Aug 26
REG (66) July 25
AUD (66) December 1st
BEC - October 3rd

[CPAdestined11]

Hello everyone,

Can you explain to me why the answer is not B? I get the lifetime exclusion, but some answers are the difference between the yearly allowed compared to gifted amount and some are $0 as part of the lifetime exclusion. I am just confused on how to tell the difference of when to use one and the other. Thanks!

A husband and wife agree to split monetary gifts to their relatives. The husband gives his daughter
$20,500, and the wife gives her niece $17,000. The annual exclusion is $12,000. What amount is the
taxable gift for the husband and wife?
A. $0.
B. $13,500
C. $17,000.
D. $37,500

[jad11]

Is it A?

[Author]

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