[goodluck2everyone]

I have no idea what the hell is going on, this is the most confusing crap ever

ex: if boot is received, use FMV on date of distribution

if boot is received, no gain or loss recognized

what the heck? Why would I care about its base if I dont recognize any gain or loss? AWWWWWWWWWWWWWWWW

BEC- 80
REG- 68, 71, July
AUD- 61 , 84
FAR- -- 75 🙂

[Yvonne570]

Looks like you did not take FAR, which would have helped you a lot in this area. There are rules when it comes to exchanges of assets. What review program are you using?

AUD - Passed:)
FAR - Passed:)
REG - Retake TBD
BEC - Missed by 3 points Retake TBD

[goodluck2everyone]

becker and wiley

BEC- 80
REG- 68, 71, July
AUD- 61 , 84
FAR- -- 75 🙂

[Yvonne570]

Then you should have lots of practice material in this area. I would review FAR materials in this area if REG is not adequate. FAR is explained more in details. It's like they have this set up as if FAR is the first test for everyone.

AUD - Passed:)
FAR - Passed:)
REG - Retake TBD
BEC - Missed by 3 points Retake TBD

[Anonymous]

In the Becker MCQ's there are a bunch of questions related to this. Make sure you work those and review the explanation for each answer as it gives you the rules a little more clearly than in the book (at least I think so).

[hopefulcpa28]

Yes, Becker MCQs are very very helpful! Keep doing them and write the formula given in solutions and memorize it…you'll be set for the exam day!!

[Anonymous]

I really struggled with this area as well. I made flashcards about the different rules and I worked the MCQ section on this about 5 or 6 times. I still never completely grasped it, and I turned out ok. Luck of the draw, I guess. But I feel your pain.

[heatmiser]

Property Exchange rules are pretty crazy. Hit R1 really hard again, and you'll get it.

2011 CPA Exam Graduate

[Author]

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