[AJE]

Which REG practice test to take (Becker)? I only have time to take one of them.

FAR 91 - 04/16
BEC 87 - 05/15
REG 77 - 07/27
AUD 92 - 08/31

[Tscape16]

Do both of them with the MCQ, should take you 3 hours max. Skip the sims, they are not representative of the exam.

FAR - 90 ✔
BEC - 86 ✔
REG - 82 ✔
AUD - 92 ✔
ETHICS - Passed

*Licensed CPA

[PasstheCPA7]

@ Tscape16: Hope you're doing well. I remember we were discussing the homeowner exclusion rules in the REG study group. Do you know how we would account for this? Been struggling with this 🙁

Let’s say that the taxpayer doesn't qualify for the $250,000 exclusion (i.e. he didn't meet the 2 year “own” and “use” test). Well, if that is the case, then, we know that all of the gain is taxable. Thus, no $250,000 exclusion is available to him.

However, if there was a non-qualified rental use in the personal residence, do we still pro-rate the gain or no (even though the taxpayer didn’t qualify and meet the 2 year test) or since no exclusion was being met, well, there would also be no pro-ration being met as well? Can you explain how that works? I remember you were explaining this very clearly in the study group.

Thank you so much!

[Author]

Replies