CPAnet Forum: Section 179 Bonus Depreciation

Active Topics

Memberlist

Help

REG STUDY GROUP
CPAnet Forum : REG STUDY GROUP

Topic: Section 179 Bonus Depreciation (

Topic Closed)

Author

Message

<< Prev Topic | Next Topic >>

CPA2011
Newbie
Newbie

Joined: 29 May 2010
Online Status: Offline
Posts: 49

Posted: 23 Nov 2011 at 23:26 \| IP Logged

I have the exam on Monday and would greatly appreciate if someone can direct me to a source for the most up to date Section 179 rules (2011). Too many changes to Becker's printed books and corrections posted online for 2011 don't offer me much help.

Also, would you please suggest a source fo section 1245/1250 rules. I am very clear on section 1231.

Thanks in advance

__________________
FAR 05/10   87
BEC 07/10   85
AUD 08/10   93
REG 10/10   64, 74, 84

cpaGuy85
Newbie
Newbie

Joined: 01 Sep 2011
Online Status: Offline
Posts: 44

Posted: 26 Nov 2011 at 22:33 \| IP Logged

I would ignore 1245/1250 for testing purposes. Just know 1231 and that
SP-Adj Book Value will be OI up to accumulated deprectiation. And 1231
gain for the excess. 1231 loss will be ordinary which is good thing.

179: The new rules are 500k reduced dollar for dollar over 2,000,000. My
book says 250k/800k but I think its outdated know.I think the test would
give you these numbers anyway. The key to remember is that its used for
machinery and equipment and the limitation is phased out dollar for dollar if
over 2mil is placed in services.

Oh, For 179 rules remember 25k for SUV.

cpaGuy85
Newbie
Newbie

Joined: 01 Sep 2011
Online Status: Offline
Posts: 44

Posted: 26 Nov 2011 at 22:35 \| IP Logged

Oh if you feel bad about the 64, 74, just keep your hopes up. I failed twice
with 74's before passing with an 87. And even though I eventually passed, I
have to retake again on Tues because it expired. In fact, I also lost BEC and
Audit. I just passed FAR this past August so now I'm starting clean again.

CPA2011
Newbie
Newbie

Joined: 29 May 2010
Online Status: Offline
Posts: 49

Posted: 27 Nov 2011 at 00:50 \| IP Logged

cpaGuy85 wrote:

Oh if you feel bad about the 64, 74, just keep your hopes up. I failed twice
with 74's before passing with an 87. And even though I eventually passed, I
have to retake again on Tues because it expired. In fact, I also lost BEC and
Audit. I just passed FAR this past August so now I'm starting clean again.

I appreciate your encouregement. I know it can ge pretty tough. So, now you have two more sections to clear again?

__________________
FAR 05/10   87
BEC 07/10   85
AUD 08/10   93
REG 10/10   64, 74, 84

Sorry, you can NOT post a reply.
This topic is closed.

Printable version

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum