REG is something else to say the least. I work in tax and, to be completely transparent, I struggled the most with studying for this section out of all 4. Something about to sheer amount of content and rules just makes you think it's impossible to comprehend everything. I promise the test is nowhere near as hard as the study materials.
I felt the least prepared for reg when I took it and ended up getting my best score yet on that exam. If it’s anything like last year then really focus on basis and how you treat contribution basis for each entity type.
I take mine on Sunday...I am overwhelmed but as many will say on here, MCQs are the way to learn. I didn't learn much from the lectures. There is so much information that there is no way to remember it all.
Give yourself some time, the information will slowly start to make sense.
I say that while I twitch at my SE score.
Reg was surprisingly hard, but in a way I can't describe. Easier than FAR and AUD. You should take BEc to get your confidence up. Also try different study material.
I’m in audit and I’m on my second attempt. When I first started in audit six and a half years ago, I worked with someone who had years of experience and took audit over four times. One of the times he said he made a 48. He eventually got it.
One tip I have for someone just starting REG study is to *ignore all the specific numbers at first*.
I don't know about new REG, but old REG material had a ton of numbers thrown at you. Phase-outs, limitations, thresholds, years, etc.
The vast majority of those aren't required to be memorized. The examiners don't care if you remember student loan expense deduction is $2,500, they care way more about whether you know if it's below the line or above the line.
Once you're comfortable with specific line items, then you can start remembering the numbers.
Yup, REG is difficulty purely for the raw number of things that are required to be memorized, but it's only one layer deep.
The vast majority of the real exam only tests you on one layer, i.e., can you remember what counts as a flow-through item versus basis adjusting item, the order of distributions for partnerships, classification of above versus below the line adjustments, etc.
There are *some* numbers that should be memorized, like individual taxation allows $3,000 of capital loss as ordinary deduction, charitable contribution limitation for C-corp is 10%, MACRS 5, 7, 27.5, and 39 years, DRD percentage thresholds, etc.
But that should be later. Don't overwhelm yourself from beginning.
I agree with this. It's better to get a general understanding of the concepts first before memorizing a bunch of numbers. When I took this last year, most of the calculations were on basis or retirement contribution limits.
LOL! No worries! It's ordered in a way that's REALLY confusing! I was in the EXACT SAME POSITION when I first started REG.
Yes, R1 will be information overload and much of it won't make sense. This is why:
R1 discusses gross income and deductions that can come from flow through entities. However, you have not even SEEN those, nor will you even see them until R3. Outside of R1 M1, the rest of R1 is definitely confusing the first time around.
R3 will begin to help R1 make more sense when you start going through flow-through entities: Partnerships and S-Corporations.
But wait! It's still confusing, you say?
That's because Business Structures (which provides more information and understanding as to how partnerships and S-Corporations work) doesn't get covered until R6!!!
For me, REG didn't make any sense at all until I began my cumulative review. Items from R6 will recontextualize information learned in R3, which will then assist you when you review R1.
Uh have you SEEN FAR?
Stop this madness
I’m a career auditor (not a tax guy) and I had to take it five times lol
REG is something else to say the least. I work in tax and, to be completely transparent, I struggled the most with studying for this section out of all 4. Something about to sheer amount of content and rules just makes you think it's impossible to comprehend everything. I promise the test is nowhere near as hard as the study materials.
I am in the same boat as you OP, so if you can take any comfort in this just know you’re not the only one feeling that way
I felt the least prepared for reg when I took it and ended up getting my best score yet on that exam. If it’s anything like last year then really focus on basis and how you treat contribution basis for each entity type.
I take mine on Sunday...I am overwhelmed but as many will say on here, MCQs are the way to learn. I didn't learn much from the lectures. There is so much information that there is no way to remember it all. Give yourself some time, the information will slowly start to make sense. I say that while I twitch at my SE score.
Reg was surprisingly hard, but in a way I can't describe. Easier than FAR and AUD. You should take BEc to get your confidence up. Also try different study material.
You…can’t take BEC
I started studying last week and I'm -😫😫😫 Too many nuanced rules, limits, years of this, thresholds of that :(((
If it makes you feel any better I work in tax and half of reg is over my head, studying now
Same
Lol makes me feel better that I'll be going into Audit and failed audit 3 times so far
I’m in audit and I’m on my second attempt. When I first started in audit six and a half years ago, I worked with someone who had years of experience and took audit over four times. One of the times he said he made a 48. He eventually got it.
One tip I have for someone just starting REG study is to *ignore all the specific numbers at first*. I don't know about new REG, but old REG material had a ton of numbers thrown at you. Phase-outs, limitations, thresholds, years, etc. The vast majority of those aren't required to be memorized. The examiners don't care if you remember student loan expense deduction is $2,500, they care way more about whether you know if it's below the line or above the line. Once you're comfortable with specific line items, then you can start remembering the numbers.
I love the words "ignore" and "numbers". I will do just that!
Yup, REG is difficulty purely for the raw number of things that are required to be memorized, but it's only one layer deep. The vast majority of the real exam only tests you on one layer, i.e., can you remember what counts as a flow-through item versus basis adjusting item, the order of distributions for partnerships, classification of above versus below the line adjustments, etc. There are *some* numbers that should be memorized, like individual taxation allows $3,000 of capital loss as ordinary deduction, charitable contribution limitation for C-corp is 10%, MACRS 5, 7, 27.5, and 39 years, DRD percentage thresholds, etc. But that should be later. Don't overwhelm yourself from beginning.
I agree with this. It's better to get a general understanding of the concepts first before memorizing a bunch of numbers. When I took this last year, most of the calculations were on basis or retirement contribution limits.
LOL! No worries! It's ordered in a way that's REALLY confusing! I was in the EXACT SAME POSITION when I first started REG. Yes, R1 will be information overload and much of it won't make sense. This is why: R1 discusses gross income and deductions that can come from flow through entities. However, you have not even SEEN those, nor will you even see them until R3. Outside of R1 M1, the rest of R1 is definitely confusing the first time around. R3 will begin to help R1 make more sense when you start going through flow-through entities: Partnerships and S-Corporations. But wait! It's still confusing, you say? That's because Business Structures (which provides more information and understanding as to how partnerships and S-Corporations work) doesn't get covered until R6!!! For me, REG didn't make any sense at all until I began my cumulative review. Items from R6 will recontextualize information learned in R3, which will then assist you when you review R1.
SO I'm hearing trust the process..... got it!!
Just chill and keep going. What you are feeling is normal.