REG Study Group Q4 2014 - Page 215

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  • November 22, 2014 at 2:27 am #632417
    MommyBear
    Member

    B–17K

    November 22, 2014 at 2:28 am #632418
    Anonymous
    Inactive

    @Sullivan – duh – that makes sense! RTMFQ!

    November 22, 2014 at 2:28 am #632419
    Tax woman
    Member

    13 – c

    Selling price

    $200,000

    Cost $210,000

    Depreciation (30,000)

    Adjusted basis (180,000)

    Recognized gain $ 20,000

    November 22, 2014 at 2:29 am #632420
    Tax woman
    Member

    I think I will fit AUD in next before tax season….if I pass that is.

    November 22, 2014 at 2:29 am #632421
    MommyBear
    Member

    So what's the deal with the depreciation recapture? I thought that was in excess of SL

    November 22, 2014 at 2:29 am #632422
    Anonymous
    Inactive

    MommyBear – I think that is for 1250.

    November 22, 2014 at 2:30 am #632423
    MommyBear
    Member

    Tax woman–You may want to consider BEC instead and do AUD and FAR back to back because there is overlap between them, more so than any other tests.

    November 22, 2014 at 2:31 am #632424
    MommyBear
    Member

    Oh–dang nab it

    November 22, 2014 at 2:31 am #632425
    Anonymous
    Inactive

    Postive thoughts @Tax Woman! You passed! And, MommyBear is right – lots of FAR/AUD overlap!

    November 22, 2014 at 2:32 am #632426
    Anonymous
    Inactive

    Section 1250 recapture is recapture of accumulated accelerated depreciation on buildings in excess of straight-line depreciation as ordinary income.

    November 22, 2014 at 2:32 am #632427
    Tax woman
    Member

    I will probably do FAR right after tax season. Is it better to do FAR before AUD?

    November 22, 2014 at 2:33 am #632428
    MommyBear
    Member

    I would do FAR then AUD. Conquer the big fella first, then round out your WIN with the smaller guy

    November 22, 2014 at 2:33 am #632429
    Tax woman
    Member

    Yes, 1250 is excess over SL. 1245 is accum dep. = ord. income

    November 22, 2014 at 2:34 am #632430
    Tax woman
    Member

    @mommy Thanks for the tip!

    November 22, 2014 at 2:34 am #632431
    Anonymous
    Inactive

    I took AUD and then FAR. But I have heard it's easier to deal with the FAR F/S stuff and then the reports on the F/S.

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