Only 20-30 hours on our REG Study Guide Book learning guide are needed for the client to prepare for the test and it saves our client’s time and energy. Most people may wish to use the shortest time to prepare for the test and then pass the test with our REG Study Guide Book study materials successfully because they have to spend their most time and energy on their jobs, learning, family lives and other important things. Our REG Study Guide Book study materials can satisfy their wishes and they only spare little time to prepare for exam. When you see other people in different industry who feel relaxed with high salary, do you want to try another field? And is the difficulty of learning a new piece of knowledge often deterring you? It doesn't matter, now REG Study Guide Book practice exam offers you a great opportunity to enter a new industry. Our REG Study Guide Book learning material was compiled from the wisdom and sweat of many industry experts. We can make sure that our REG Study Guide Book study materials have the ability to help you solve your problem, and you will not be troubled by these questions above.
AICPA Certification REG As the saying goes, Rome is not build in a day.
No matter you are a student, a office staff or even a housewife, you can always find your most situable way to study our REG - CPA Regulation Study Guide Book exam Q&A. The Latest REG Exam Braindumps latest dumps will be a shortcut for a lot of people who desire to be the social elite. If you try your best to prepare for the Latest REG Exam Braindumps exam and get the related certification in a short time, it will be easier for you to receive the attention from many leaders of the big company, and it also will be very easy for many people to get a decent job in the labor market by the Latest REG Exam Braindumps learning guide.
Our REG Study Guide Book learning materials provide you with a platform of knowledge to help you achieve your wishes. Do you want to find a job that really fulfills your ambitions? That's because you haven't found an opportunity to improve your ability to lay a solid foundation for a good career. Our REG Study Guide Book quiz torrent can help you get out of trouble regain confidence and embrace a better life.
AICPA REG Study Guide Book - And we have become a popular brand in this field.
According to various predispositions of exam candidates, we made three versions of our REG Study Guide Book study materials for your reference: the PDF, Software and APP online. And the content of them is the same though the displays are different. Untenable materials may waste your time and energy during preparation process. But our REG Study Guide Book practice braindumps are the leader in the market for ten years. As long as you try our REG Study Guide Book exam questions, we believe you will fall in love with it.
For many people, it’s no panic passing the REG Study Guide Book exam in a short time. Luckily enough，as a professional company in the field of REG Study Guide Book practice questions ,our products will revolutionize the issue.
REG PDF DEMO:
QUESTION NO: 1
Clark bought Series EE U.S. Savings Bonds after 1989. Redemption proceeds will be used for payment of
college tuition for Clark's dependent child. One of the conditions that must be met for tax exemption of
accumulated interest on these bonds is that the:
A. Purchaser of the bonds must be the sole owner of the bonds (or joint owner with his or her spouse).
B. Bonds must be bought by a parent (or both parents) and put in the name of the dependent child.
C. Bonds must be bought by the owner of the bonds before the owner reaches the age of 24.
D. Bonds must be transferred to the college for redemption by the college rather than by the owner of the
bonds.
Answer: A
Explanation
Choice "a" is correct. One of the conditions that must be met for tax exemption of accumulated interest on
the bonds is that the purchaser of the bonds must be the sole owner of the bonds (or joint owner with his
or her spouse).
Choice "b" is incorrect. The bonds must be bought and put in the name of the owner or co-owner, not in
the name of the dependent child.
Choice "c" is incorrect. The owner must be at least 24 years old before the bonds issue date.
Choice "d" is incorrect. There is no requirement that the bonds must be transferred to the college for redemption by the college rather than by the owner of the bonds.
QUESTION NO: 2
Tom and Joan Moore, both CPAs, filed a joint 1994 federal income tax return showing $70,000 in taxable
income. During 1994, Tom's daughter Laura, age 16, resided with Tom. Laura had no income of her own and was Tom's dependent.
Determine the amount of income or loss, if any that should be included on page one of the Moores'
1994 Form 1040.
The Moores received a $500 security deposit on their rental property in 1994. They are required to return the amount to the tenant.
A. $0
B. $500
C. $900
D. $1,000
E. $1,250
F. $1,300
G. $1,500
H. $2,000
I. $2,500
J. $3,000
K. $10,000
L. $25,000
M. $50,000
N. $55,000
O. $75,000
Answer: A
Explanation
"A" is correct. $0. The security deposit is not taxable income because the Moores are required to return it
when the tenant leaves. If the deposit is applied to damages in a later tax year, the portion the
Moores
retain would be income to them in the year they retain the deposit, and the money they spend to repair the
damage would be a deduction to them.
QUESTION NO: 3
Don Wolf became a general partner in Gata Associates on January 1, 1989, with a 5% interest in
Gata's
profits, losses, and capital. Gata is a distributor of auto parts. Wolf does not materially participate in the
partnership business. For the year ended December 31, 1989, Gata had an operating loss of
$100,000.
In addition, Gata earned interest of $20,000 on a temporary investment. Gata has kept the principal temporarily invested while awaiting delivery of equipment that is presently on order. The principal will be
used to pay for this equipment. Wolf's passive loss for 1989 is:
A. $0
B. $4,000
C. $5,000
D. $6,000
Answer: C
Explanation
Choice "c" is correct. Wolf's passive loss for 1989 is $5,000 ( $100,000 operating loss * 5% interest in partnership).
Choice "a" is incorrect. Wolf did not materially participate in the partnership, so the loss was passive.
Choice "b" is incorrect. Wolf's passive loss of $5,000 could not be reduced by his distributive share of the
partnership's "interest income" totaling $1,000. Interest income is considered "portfolio income," and
neither the partnership nor a partner can offset it against passive losses.
Choice "d" is incorrect. No items of income or deduction from portfolio income or activities in which the
taxpayer materially participates may be combined or offset with passive losses unless the activity generating the loss is completely disposed of in a taxable transaction.
QUESTION NO: 4
For a cash basis taxpayer, gain or loss on a year-end sale of listed stock arises on the:
A. Trade date.
B. Settlement date.
C. Date of receipt of cash proceeds.
D. Date of delivery of stock certificate.
Answer: A
Explanation
Choice "a" is correct. Trade date.
Gain or loss on a year-end sale of listed stock arises on the trade date.
Rule: Whether on the cash or accrual method of accounting taxpayers who sell stock or securities on an
established securities market must recognize gains and losses on the trade date, rather than on the settlement date.
Choices "b", "c", and "d" are incorrect, per the above rule.
QUESTION NO: 5
Farr made a gift of stock to her child, Pat. At the date of gift, Farr's stock basis was $10,000 and the
stock's fair market value was $15,000. No gift taxes were paid. What is Pat's basis in the stock for computing gain?
A. $0
B. $5,000
C. $10,000
D. $15,000
Answer: C
Explanation
Choice "c" is correct. Property acquired as a gift generally retains the rollover cost basis as it had in the
hands of the donor at the time of the gift. Basis is increased by any gift tax paid that is attributable to the
net appreciation in the value of the gift. Since there were no gift taxes paid, Pat's basis for computing a
gain is the rollover cost (basis), $10,000.
Choices "a", "b", and "d" are incorrect, per the explanation above.
We guarantee that you can pass the exam at one time even within one week based on practicing our SAP C_THR94_2405 exam materials regularly. The most attraction aspect is that our high pass rate of our SAP C_THR97_2405 study materials as 98% to 100%. And you cannot miss the opportunities this time for as the most important and indispensable practice materials in this line, we have confidence in the quality of our PECB Lead-Cybersecurity-Manager practice materials, and offer all after-sales services for your consideration and acceptance. Time and tide wait for no man, if you want to save time, please try to use our HP HP2-I72 preparation exam, it will cherish every minute of you and it will help you to create your life value. So you will never feel bored when studying on our SAP C_THR96_2405 study tool.
Updated: May 26, 2022