[jeff]

Welcome to the Q4 2016 CPA Exam Study Group for REG.

If this is your first post in the study group – please post your target exam date (just the time frame to preserve your anonymity), and your past history with this exam (optional, of course).

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

@aatoural yesss I saw that question in practice test and got it wrong lol. So basically got to check for which child qualifies and the income of the parent if lower then the exemption amount. Then 20% of parents lower income.
Thank you 🙂

My test is at 3:30 pm. Only time I found available haha.

[Anonymous]

So bonus accruals are deductible in current year tax return if paid within 3 and a half months after year end right?

Becker book says two and a half but in the explanation for a question it said 3 and a half. Any thoughts?

[aatoural]

Maybe a typo?

Every question I have encountered is 3 and a half months.

Clarification – in UCC sale of goodsthe tranferoftitleisco fusing me.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Anonymous]

Yeah then most likely a typo.

Title generally transfers as agreed by both parties. If no agreement then usually transfers upon delivery. And if buy rejects goods, title reverts back to seller.

Transfer of risk of loss are different tho.

[aatoural]

The risk of loss transfer I got it. Ut the title was getting meco fused because I got a question with nonconforming goods and made me doubt.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Anonymous]

Alrighty, I just skimmed through it as well to make sure.

So, which exemption amounts or phase outs you think we should know? I know corp AMT and DNI (simple and complex trusts) are one of those.

[aatoural]

Section 179 exemption and phse out.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[stina71223]

Any recommendations for Reg study material?

[aatoural]

@annie – this is a wrap for me. Good luck tomorrow!! Lets hope we get a pass.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Anonymous]

@aatoural yep same here. Thanks, just wrapped up as well. Good luck tomorrow. Hopefully it goes well 🙂

[HoosierCPA]

@aatoural @annie good luck to both of you! Let me know how it goes!

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

As im getting to prometeics and check my FB I found a picture from where I was in college 3 years ago doing a project on corporate Tax and we had just posted late at night “we defeated you schedule M-1”. What a coincidence!

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[LIZZ]

I just finished watching all the Becker videos and taking notes. My exam is 18 days away on Dec 9th. My plan is to make myself SICK doing Ninja MCQ & SIMS and then wrap up with Becker final review the last week. I just hope its enough to PASS.

FAR - 05/2015
AUD - 75,11/2014
REG - 07/2015
BEC - 09/2015

[Determined24]

Mr. Oleaner owns 600 shares of the voting stock of Clarkson Corporation. The remaining 350 shares of the voting stock outstanding are held by persons unrelated to Mr. Oleaner. Mr. Oleaner wants a proposed redemption of part of the stock to qualify under IRC Sec. 302(b)(2). What is the maximum number of shares that Mr. Oleaner can own after the redemption to qualify as a sale or an exchange?
\Answer is 349

I can't figure this one, how we got 349

[Determined24]

As well as the 699 ?

[Author]

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