[jeff]

Welcome to the REG CPA Exam study group for July & August 2018 exams. 🙂

Please introduce yourself & when you’re taking your exam (approximate timeframe).

REG Study Group Links and Resources:

1. NINJA Monthly – Full REG Course for $67/mo
2. How to Study for REG with NINJA Only
3. How to Pass REG in 20 Days
4. How to Retake REG After Failing
5. Video: Study Advice for REG
6. CPA Reviewed Podcast
7. CPA Exam Score Release Dates
8. NINJA MCQ Trending vs Actual REG Scores
9. I Passed the CPA Exam!
10. I Passed REG!
11. NINJA REG SIMS List by Topic
12. Free Downloads: NINJA REG

[Anonymous]

Aiming to hit 600 MCQs from Saturday till Monday, that means I have to answer 200 MCQs and drink a can of Redbull a day, whew!
I've only done 133 so far because I've been writing notes while finishing the Entities section. Only 102 left, so it would be surely like a breeze when I get to BLAW and Ethics.

[Sharky]

Hi guys,
Does any one has notes or table or anything that shows the differences between s corp, partanership, c corption. Specially in terms of basis, contribution , non-liquidating distributin and liquiditing distribution from both side company side and shareholder side.
I really need this cause i mix up between them alot.

[janelle525]

Can any advise if I should study AMT for individual and corporation? My exam is beginning of Sept.

[Starved_Wolf]

Thanks @chandler!
Was going to supplement with ninja but dont think theres enough time for that. Just going to rely solely on becker and study as hard as i can. I know passing is enough but i would be so happy if i could finish these exams off with a score in the 90s.

[sg235]

Hey everyone,
To what extent can you expect to see depreciation on REG from those who have taken the test recently or in the past?
I didn't really see a lot of depreciation in the corporate section of Wiley.. I've gone through the MCQ for the corp but didn't see anything.
Saw a little bit in individual.
Any feedback on this topic or any other useful info for REG would be appreciated.. as I have no experience whatsoever with taking REG.
Thanks

[ReggaeReg]

Hi Everyone!
I take Reg on Wednesday and this is my first time taking in the new format. I understand SIMs are 50% your grade but now that they are all “fill in the blank option” besides your typical research. I am freaking out. I am completely owning the MCs – scoring in high 80s. But sims I am getting 50% right at best cause my numbers aren't a perfect match. How perfect does my fill in the blank have to be? Is there some wiggle room with this? Does anyone have any idea on how these sims get graded? Sorry if this is asked before.

Thank you!
RR

[Anonymous]

@ReggaeReg,

No one knows for sure how the SIMs are graded. However, I am fairly certain that there is partial credit given on the real exam. I can also say for certain that wording on the actual exam is better than Becker. Tells you to enter as whole numbers, all positive, loss items as negative, etc. I did much better on SIMs on the actual exam than I did in Becker for this exact reason. I just don't believe that they will count the whole sim wrong because you missed one item early on.

[ReggaeReg]

Thanks Chandler!! It wasn't as bad as the study guides – still exhausting though! Just hoping to get a perfect score of 75 🙂

Best of luck to everyone… May the odds be in your favor!

[Starved_Wolf]

Davidson was transferred from Chicago to Atlanta. In connection with the transfer, Davidson incurred the following moving expenses:
Moving the household goods: $2000
Temp living expenses :$400
Lodging on the way to Atlanta: $100
Meals: :40

What amount may Davidson deduct if the employer reimbursed Davidson $2000 (not included in form W-2) for moving expenses?
Answer: $100

I'm not understanding the “(Not included in form W-2) part. If the $2000 had been included in his form W-2, would the answer then be $2,100?

[Anonymous]

The allowed expenses are $2,100, but you have to deduct the employer reimbursement of $2,000, thus the final answer is $100/Net Moving Expenses.

[Starved_Wolf]

Reimbursements are always deductible so long as they are also included in gross income. Is this the general rule?

[Anonymous]

@Starved_Wolf, for moving expenses this is the rule as long as they are otherwise deductible. So, if the employer had included moving reimbursements on the W-2 (would be in Box one or Box 12, code P), then you would take a moving expense deduction of $2,100 on page 1 of your 1040. The net effect is the same either way.

[glopooka]

Sorry for the delay, but I didn't want to open my computer for a bit after the exam on Monday.
MCQs were ok, and I think I did pretty well on them. The Sims though…..WOW! One completely threw me for a loop – hope it is a throw away. This is my last one and I am just hoping for a passing grade. this was my hardest for sure.
Advice: practice MCQs as much as you can. Solidifying the rules through the questions helps in the sims.

[Anonymous]

@tncincy, are you still hanging in there?

[Starved_Wolf]

Thanks @Chandler!
Sorry, I have another question and might possibly have more from now until my exam day >_<..I really hope that all this will start clicking for me soon or else I'm screwed for my exam next Sat.

R2-In the Itemized Deductions module, Becker states “withheld taxes from paychecks during the year are deductible” and can be taken as an itemized deduction but they also state in R2-Tax Comp and Credits that “All income taxes withheld from a taxpayers paycheck are treated as a “credit” against the taxpayer's tax liability. What's the difference? Aren't they both the same?

[Author]

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