[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]

@Bama, Can you post the whole question? I'm sure I can help you out, but I need more than the numbers you provided.

[bama]

CPA fanatics, Inc. Enters into an exchange transaction with funny lawyers, Inc. CPA fanatics exchanges a building it has used to run one of its retail locations for land that will be used for the development of a “numbers themed” amusement park. The building given up by CPA fanatics has a FMV of $350,000, original purchase price of $300,000 and depreciation of $80,000. The land received by CPA fanatics has a basis and FMV of 280,000. CPA fanatics also receives $70,000 cash from funny lawyers in the exchange.

Question #4: What is the total basis in the property received by CPA Fanatics?

Becker Answer: $290,000

Cant figure it out

[Anonymous]

Ah, so here in like-kind exchange you have to follow this process to get the basis of the new property:
1. Adjusted Basis of the old property: $220,000 ($300,000 cost – A/d of $80,000) +
LESSER of:
a: Gain Realized: $130,000 or
b. Cash Received: $70,000

– Here the gain Recognized is $70,000 (the lesser of a or b). Since we recognize this gain, it is added back into the adjusted basis. $220,000+ $70,000= $290,000.

[bama]

So is that the correct formula to find the basis of new property? @Chandler
Thanks by the way

[shakil127]

I have failed Reg for the second time with a 61. The first time it was a 62. I felt I did significantly better than the last time. But I don't know what to do or think. I need some help to give me advice. I am planning to retake it in the First or second week of November. I have Becker review product and also I plan to renew my Ninja access. Last time around I only had 10 days to use Ninja. I really want to pass this exam. I also feel like I took too long to prepare for the exam last window and I did not pass because I forgot a lot of materal over two and a half month period. I also did not complete all the Becker questions or Ninja materials. I am not sure if it is an unrealistic expectation to increase the score by 16 points. But I am determined and ready to put the time and effort.

BEC-77
AUD-66,72,82
REG-66,64(Q3 2015),80 (11/30/2015)

[Anonymous]

@Bama, that is the correct formula in a LKE where you are receiving boot. The lawyers would have a basis of $350,000 in the building ($280,000 basis +$70,000 cash provided).

[Matt]

I just received my REG score..another 73 (2nd in a row). I have a 1 and 3 year and work a lot, so my time is very limited. I am currently using Wiley CPA Excel. I had performed thousands (literally) of multiple choice questions and more recently put more focus on completing and understanding the TBS questions. Any recommendations for how I can change my study regime?

Scores thus far:
BEC 72, 75 (Exp 9/30/18)
AUD 72, 74, 77 (Exp 4/30/19)
FAR 67, 70
REG 59, 73, 73

[Gabby]

So got my REG score and didn't pass. Im going to take it again in Q4. I'm using becker and completed the online review course. Should i reset my statistics and progress or just go over it again and keep the progress? Any recommendations for passing?

[AbrilCPA]

I just passed REG today with the very-close-to-fail score. I did not feel confident after the exam and even did not remember what I had been asked during the exam. I took it in more than 3 hours and quickly left the test room. Other than the Code Research question, I had no confidence with any answers I made. Well, but I made it. Maybe just lucks!

[SoOverIt__]

Just received my REG score. A 72. Jeez, I can't wait to do this again and wait til Christmas to get my results. I won't disclose what exam questions I received on my TBS's, but I've only found the answers by reading the detailed instructions of the tax forms from IRS.gov. Literally printing this for my next attempt at REG, as it's nowhere to be found in my Roger materials. The exam may have been modified recently, but it seems to still be testing the memorization of tax code over real world application. As if we won't have access to guidance IRL….
Anyway, GOOD LUCK all.

6 measly points!!!!
FAR – 76
BEC – 79
AUD – 72
REG – 72

[SheilaJA]

Oh thank heavens, I finally passed this monster. NOw to decide between FAR & AUD for the next one.

TX Candidate
BEC - 11/30/13 - 75 (3rd try)
AUD - Jan 2014
REG - Feb 2014
FAR - May 2014

[freecloud]

Hello everyone,

This is my first post at this forum. I also took my first part REG at 3Q. The score will release on today 9/19. I'm in California. I wonder where I can check my score.

Thanks!

[TryAgain]

I am so happy I passed REG after the long wait last night for score. I had passed it previously, but lost score when I did not pass FAR. FAR is all that I have left now, scheduled for Dec 10!
Congrats to those that passed. Those that did not, keep it up, you will get it.

[TryAgain]

@SheilaJA congrats! I would take FAR next, as there are journal entries you need to be able to do in Audit. I did mine totally backwards.

[Anonymous]

Just took a look at my REG score and did not pass. Trying to determine if this is REALLY what I want to do. I took the BEC part 4 times between 2005 to 2011 and have not passed. I have 5 year old twins, a toddler, and a husband. Going into prayer!

[Author]

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