Joined: 27 Jun 2011 Location: United States
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Posted: 19 Jul 2012 at 12:21 | IP Logged
Hey, I'm taking REG on Monday, August 20 and studying using Becker and Bisk. For those that have taken the exam before, do you have any helpful hints, good review sources, etc.?
Joined: 28 Jun 2012 Location: United States
Online Status: Offline Posts: 7
Posted: 23 Jul 2012 at 18:05 | IP Logged
REG is my last section and I have failed it three times!! I'm taking the exam on August 15. I've been studying using Becker and I just purchased Gleim. I have scored stronger overall on the M/C questions but weaker on the sims all three times. I think Becker's M/C questions do a good job preparing you for the exam but I can't say the same for their simulations. On my last two exams I was given two sims on each exam regarding 1245 and 1250 depreciation recapture using both the percentage of completion method vs. the installment method. They say that depreciation recapture almost never gets tested but I have seen it twice and I'm convinced that is why I did not pass. I don't mean to freak you out but my advice is to make sure you know that area as I have seen it twice and to supplement Becker's simulations with another review program. Hope this helps and good luck!!
In REG its heavy Tax, I took it twice and passed both
times, Second time i only took it because my credit
expired. But just make sure you know The Corp & Partnership
tax well, as majority of it comes from there. As for the
law section, I did not have it heavy except of sales and contracts. There was one or two questions about bankruptcy
but nothing bad. Just study and give it you all!, Good
Luck!
Joined: 26 Jul 2012 Location: United States
Online Status: Offline Posts: 20
Posted: 26 Jul 2012 at 06:26 | IP Logged
GeorgeE wrote:
REG is my last section and I have
failed it three times!! I'm taking the exam on August
15. I've been studying using Becker and I just purchased
Gleim. I have scored stronger overall on the M/C
questions but weaker on the sims all three times. I
think Becker's M/C questions do a good job preparing you
for the exam but I can't say the same for their
simulations. On my last two exams I was given two sims
on each exam regarding 1245 and 1250 depreciation
recapture using both the percentage of completion method
vs. the installment method. They say that depreciation
recapture almost never gets tested but I have seen it
twice and I'm convinced that is why I did not pass. I
don't mean to freak you out but my advice is to make sure
you know that area as I have seen it twice and to
supplement Becker's simulations with another review
program. Hope this helps and good luck!!
Thanks for this, I'm taking also taking Regs, but on Aug
18th. I'm a little weak on the 1245 & 1250 rules, so
I'll have to bone up a bit on that. For some reason I
remember that there is no 1250 depreciation recapture on
things purchased post 1986 because they must use MACRS,
and thus there will be no excess "accelerated over S/L"
to recapture as an ordinary gain. It would all be 1232
gain... capital. Unless I'm wrong, in which I definitely
need to revisit it.
Basically recapture all excess accelerated depreciation
over S/L as an ordinary gain, and the rest is 1231, but I
don't know the details... Doh!
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Topic: REG Advice/Tips
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