REG Study Group Q4 2014 - Page 218

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  • November 22, 2014 at 2:50 am #632462
    MommyBear
    Member

    @wannabe–You waiting on a score too?

    November 22, 2014 at 2:51 am #632463
    SullivanNJD
    Member

    yes, 2:00 EST

    FAR- 87
    REG- 81
    AUD- 88
    BEC-

    Who's Better Than Us? nobody

    November 22, 2014 at 2:51 am #632464
    WANNABE_CPA
    Member

    Noo i am nervous for Tax lady…but scores are not coming..who said coming..Lol

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    November 22, 2014 at 2:52 am #632465
    MommyBear
    Member

    Well crap. i don't know if I can hang for 4 more hours, but I'm gonna try! Anyone got more questions to post?

    November 22, 2014 at 2:52 am #632466
    MommyBear
    Member

    Oh–Not me man. She nailed it. NAILED IT!

    November 22, 2014 at 2:53 am #632467
    WANNABE_CPA
    Member

    What is a unique feature of:

    US district court

    US Tax court

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    November 22, 2014 at 2:54 am #632468
    Tax woman
    Member

    @wannabe. Hey! I just saw your posts! Yes, you need to know the judicial process….the order of how it goes through the system. Ways and Means first etc. etc.

    @mommy. I hope you are here when I find out!!! You are a great supporter! Let me post some more questions…sorry I got behind.

    November 22, 2014 at 2:55 am #632469
    Tax woman
    Member

    Question 18:

    (PTAX-0033)

    Need a hint?

    See Reference…

    Mike Reed, a partner in Post Co., received the following distribution from Post:

    Post’s basis Fair market value

    Cash $11,000 $11,000

    Land 5,000 12,500

    Before this distribution, Reed’s basis in Post was $25,000. If this distribution were nonliquidating, Reed’s recognized gain or loss on the distribution would be

    $11,000 gain.

    $ 9,000 loss.

    $ 1,500 loss.

    $0

    November 22, 2014 at 2:55 am #632470
    SullivanNJD
    Member

    what was the answer to that contract breach question? compensatory or specific performance?

    FAR- 87
    REG- 81
    AUD- 88
    BEC-

    Who's Better Than Us? nobody

    November 22, 2014 at 2:56 am #632471
    Tax woman
    Member

    @Sullivan. Sheesh..I'm too old for 2am releases. HA!

    November 22, 2014 at 2:57 am #632472
    SullivanNJD
    Member

    18) Is it D – 0? Gain is to the extent cash exceeds basis immediately before distribution.

    FAR- 87
    REG- 81
    AUD- 88
    BEC-

    Who's Better Than Us? nobody

    November 22, 2014 at 2:57 am #632473
    Tax woman
    Member

    I have a spa day scheduled for tomorrow afternoon (an anniversary gift from my hubs)…it would be soooo wonderful to know my score before then so I could actually relax!

    November 22, 2014 at 2:58 am #632474
    MommyBear
    Member

    D=0

    November 22, 2014 at 3:00 am #632475
    Anonymous
    Inactive

    @Tax woman – what a thoughtful gift from your husband! So nice! Enjoy your Spa Day tomorrow!

    November 22, 2014 at 3:00 am #632476
    Tax woman
    Member

    D is correct. Good job guys. Everyone understand that one? Bucky? Wannabe?

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