[Last Chance CPA]

I want to start a thread of the toughest topics in REG. I have failed REG 3x and am shocked that REG is harder to pass than FAR.

I want to gauge what folks think are the toughest topics/sub-topics in REG, and the extent to which we should be studying these points?

NOTE: Those who have passed, please give your insights!!!

Topics that have troubled me:

-Basis vs FMV – e.g., gift transactions, inheritance, partnerships vs. C Corps vs. S Corps, etc.

-AMT – e.g., ACE adjustments (how detailed do we need to go here?)

-Alimony recapture (will this type of detail even be covered on the exam?)

-1231, 1245, 1250 (seems easy enough but maybe I am not studying the details?)

Thanks!

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[Gabe]

This is really subjective, but I don't think basis is “hard,” there are just a TON of details.

That being said, Basis is very heavily tested, so I would say know it inside and out (which is what I am working on right now in the REG study group 🙂 )

See ya in Q2

CPA, CFE
CISA- Experience will be completed by August 2016

[s2sylvir]

AMT is hard, but it's not even tested that much on the exam, idk. Basis is definitely a good point to study.

My hardest part was Individual rules vs. Corporation rules vs. Partnership rules. They all have PAL, Capital Gains, Carryforwards/Carrybacks, Charity, etc, but are all treated differently depending on the entity.

BEC - PASS (79)
AUD - PASS (63, 71, 74, 74, 83)
REG - PASS (88)
FAR - PASS (58, 89)

Becker for all + FAR 10 Point Combo

[Last Chance CPA]

Now I understand how Mitt Romney and his cronies have made so much money in their lives 🙂

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[law0915]

Like-kind exchanges…never liked those!

REG 77 Feb14
BEC 13*, 79 Aug14
FAR 64**, 76 Nov14
AUD 89 Feb15

*Exited exam after first testlet
**Only studied F1-F6 out of 10 Becker chapters

Licensed Arizona CPA

[Anonymous]

I am beginning to wonder if working in tax will be a detriment versus a benefit. REG is next up and the amount of study material is daunting. I took a couple of practice exams and didn't do so well without touching the study material. However, after reading some of these tough topics, I feel more confident as I feel they are topics I am comfortable with. Basis has become a heavy focus for me at our firm. I wish they would test on the ACA and the New Tangible Repair Reg's. I feel like I know those topics inside and out.

[Anonymous]

REG was my second highest score, but it was the only exam in which I scored a “Weaker” on a subsection: Business Law.

For some, this stuff comes naturally. For me, it was THE WORST.

[Mika]

@Last chance CPA, 3 out of 4 topics you mentioned not even shown up in my exam. This exam is more like 30% hard work and 70% of luck.

REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

[Mika]

@Gabe, agreed! Really need to know basis inside out.

Few things you should ask yourself

Shareholder/Corporate/Partnership gain/loss, basis of the property received, gain/loss of the property distributed, basis of the property distributed

Know the different kinds of boot (mortgage assumed, unlike property received, cash etc)

REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

[Future Ninja]

Bankruptcy estate. Definitely hard to figure out in REG.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

@mika i hope you are right. 70% luck. I need it in passing REG.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Mika]

yeah bankrutpcy……probably the hardest blaw topic for me.

REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

[Last Chance CPA]

I know Mica. I am just baffled how REG is defeating me when FAR was the beast! Never did I expect 3 fails. I know this material. I told folks back home (DC) I am a CPA…crap!

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[Mika]

I am studying FAR at the moment and I already missed the study of REG. There are so many materials to cover compare to REG!! I plan to take it at the end of May..

REG - 80 (02/13/2015) Roger + Ninja Flash Card + Ninja MCQ + Becker's Note
FAR - 84 (05/29/2015) Roger + Ninja MCQ + Some Wiley book questions
BEC - 77 (08/27/2015) Roger + Ninja MCQ + Half Wiley book questions
AUD - 87 (08/28/2015) Roger + Ninja MCQ + Half Wiley book questions

[Last Chance CPA]

Good luck Mika. FAR was a long time ago…I spent over a year on it before i got a passing score…MCQs and TBSs with journal entries are the key…

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[Jenny]

Basis, like kind exchanges, bankruptcy…anything else? doing a last minute review before my exam tomorrow….

Oklahoma Candidate
AUD - Pass (8/14)
FAR - Pass (11/14)
REG - Pass (2/15)
BEC - Pass (11/15)
Ethics Exam - Pass (12/15)

[Author]

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