fbpx

Free REG CPA Practice Question Walkthroughs

reg practice question walkthroughs superfastcpa

Share This...

On this page you’ll find free REG practice question walkthroughs on topics from the AICPA CPA exam blueprints for the REG exam. Most of the videos focus on “Application” tasks listed in the blueprints, as those are usually the calculation-based topics.

REG III: Federal Taxation of Property Transactions

Application: Calculate the tax basis of an asset purchased for use in a trade or business.

Application: Calculate the tax basis of an asset converted from personal to business use.

Application: Calculate the tax basis of property received as a gift or as an inheritance from a decedent

Application: Calculate the tax basis of stock acquired through a wash sale

Application: Calculate the basis of intangible assets, including organization costs, start-up costs and loan costs

Application: Calculate tax depreciation for tangible business property using MACRS, including identification of the applicable recovery period and convention

Application: Determine property eligible for a Section 179 deduction

Application: Calculate tax amortization for intangible assets

REG IV: Federal Taxation of Individuals

Application: Calculate the amounts that should be included in an individual’s gross income as reported on Form 1040 – U.S. Individual Income Tax Return, including wages, interest and dividends, guaranteed payments received from a partnership, income from a qualified retirement plan and punitive damages

Application: Calculate the capital gain that should be included in an individual’s gross income as reported on Form 1040 – U.S. Individual
Income Tax Return from transactions, including gains from the sale of investments or virtual currencies, assets received as gifts and assets received from a decedent and classify them as long-term or short-term.

Application: Calculate the amounts that should be excluded from an individual’s gross income as reported on Form 1040 – U.S. Individual Income Tax Return, including tax-exempt interest, gifts received and life insurance proceeds.

Application: Calculate the income reported in the year of death for a decedent on Form 1040 – U.S. Individual Income Tax Return

Application: Use information provided from disregarded and pass-through entities in which an individual has an ownership interest to report ordinary business income (loss) and separately stated items on an individual’s tax return.

Application: Identify adjustments allowed in the calculation of adjusted gross income given a specific scenario, including a contribution to a qualified retirement plan, contribution to a health savings plan and self-employment expenses.

Application: Identify itemized deductions allowed in the calculation of taxable income given a specific scenario, including medical
expenses, qualified residence interest expense, casualty losses, taxes and charitable contributions.

Other Posts You'll Like...

Want to Pass as Fast as Possible?

(and avoid failing sections?)

Watch one of our free "Study Hacks" trainings for a free walkthrough of the SuperfastCPA study methods that have helped so many candidates pass their sections faster and avoid failing scores...