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TCP Surgent Supplemental Course: Tax Compliance and Planning

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  1. WELCOME. PLEASE START HERE!

    1. Welcome to Farhat Lectures
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  5. 🚀Introduce Yourself
    1 Topic
  6. 🚨🚨🚨2026 AICPA Released Questions
    1 Topic
  7. 💡TCP1: 1A – Individual Compliance and Tax Planning Considerations for Gross Income, AGI, Taxable Income, and Estimated Taxes
    44 Topics
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    17 Quizzes
  8. 💡TCP1: 1B – Compliance for Passive Activity and At-Risk Loss Limitations (Excluding Tax Credit Implications)
    8 Topics
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    6 Quizzes
  9. 🚨🚨HOW TO SOLVE SIMULATIONS (TUTORIAL + VIDEO EXAMPLES)
    ✅ TCP CPA Exam Simulation Tutorial + 2024 and 2025 AICPA Video Questions. Surgent
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    2 Quizzes
  10. 🎯Comprehensive Tests Including AICPA Released Questions
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  11. 💡TCP1: 1C – Gift Taxation Compliance and Planning
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    5 Quizzes
  12. 💡TCP1: 1D – Personal Financial Planning for Individuals
    43 Topics
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    16 Quizzes
  13. 💡TCP2: 2A1 – Net Operating & Capital Loss Utilization
    11 Topics
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    3 Quizzes
  14. 💡TCP2: 2A2 – Transactions Between a Shareholder and a C Corporation (Part 1)
    14 Topics
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    2 Quizzes
  15. 💡TCP2: 2A2 – Transactions Between a Shareholder and a C Corporation (Part 2)
    19 Topics
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    5 Quizzes
  16. 🎯AICPA Released Questions: Section 1244
    1 Quiz
  17. 💡TCP2: 2A3 – Consolidated Tax Returns
    5 Topics
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    1 Quiz
  18. 💡TCP2: 2A4 – International Tax Issues
    50 Topics
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    11 Quizzes
  19. 💡TCP2: 2B – S Corporations
    20 Topics
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    12 Quizzes
  20. 🎯Comprehensive Tests Including AICPA Released Questions
    3 Quizzes
  21. 💡TCP2: 2C – Partnerships
    16 Topics
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    11 Quizzes
  22. 🎯Comprehensive Tests Including AICPA Released Questions
    3 Quizzes
  23. 💡TCP2: 2D – Trusts
    9 Topics
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    1 Quiz
  24. 🎯Comprehensive Test Including AICPA Released Questions
    2 Quizzes
  25. 💡TCP2: 2E – Tax-Exempt Organizations
    4 Topics
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    1 Quiz
  26. 🎯Comprehensive Test Including AICPA Released Questions
    1 Quiz
  27. 💡TCP3: 3A – Formation and Liquidation of Business Entities
    9 Topics
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    5 Quizzes
  28. 💡TCP3: 3B – Tax Planning for C Corporations
    25 Topics
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    10 Quizzes
  29. 🎯 AICPA Released Questions
    3 Quizzes
  30. 💡TCP4: 4A – Nontaxable Disposition of Assets
    13 Topics
    |
    11 Quizzes
  31. 💡TCP4: 4B – Amount and Character of Gains and Losses on Asset Disposition, and Netting Process, Including Installment Sales
    12 Topics
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    12 Quizzes
  32. 💡TCP4: 4C – Related Party Transactions, Including Imputed Interest
    2 Topics
  33. 🎯AICPA Released Questions: Property Transactions
    2 Quizzes

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Quiz 21 of 147

🎯Rental Real Estate – Mom and Pop Exceptions: 9 MCQs

  1. TCP Surgent Supplemental Course: Tax Compliance and Planning
  2. 💡TCP1: 1B – Compliance for Passive Activity and At-Risk Loss Limitations (Excluding Tax Credit Implications)
  3. 🎥# 1 TCP Video Simulation
  4. 🎯Rental Real Estate – Mom and Pop Exceptions: 9 MCQs

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Responses

  2. DG SHIN 28 March 2024

    In Q4, from my understanding, 50% of exceeding 100K AGI is cut from the 25K mom and pop deduction. In this question, 7.5K is the maximum deduction to offset Active income. (25K-17.5K=7.5K) (35K*50%=17.5K). please correct me if I’am wrong..

    1. Maroun, CPA 3 April 2024

      Hello DG,

      It looks like you might be using an older version of the course material. Please subscribe to the new REG Becker supplemental course for 2024 to get the most up-to-date information and ensure you’re fully prepared for the exam. This is the link:
      https://farhatlectures.com/courses/reg-becker-supplemental-course-2024/

      As for the question, it is covered under TCP and not covered under REG anymore. In all cases, your understanding is correct. The $25,000 deduction is reduced by 50% of the amount by which the MAGI exceeds $100,000, which in this case leaves a maximum deduction of $7,500:
      $25,000 − ($35,000 × 50%) = $7,500.
      We’ve updated the question to reflect the above.
      Thank you for bringing this to our attention!

  3. DG SHIN 28 March 2024

    In Q6, her actual passive loss is 10K, and possible mom and pop deduction is 13.5K. I think the lesser should be deducted in tax return. I am a bit confused..

  5. Betty Barnes 9 July 2024

    For Q#3, should Jenny be able to deduct rental loss of $25,000 even though her actual rental loss was only $18,000? I understand as an active participant in rental activity she is allowed $25,000 loss under mom and pop exemption but only if her rental loss was greater than her actual loss, correct? Or does the mom and pop exemption allow $25,000 knowing that if her AGI is greater than $100,000 it would be reduced by 50%, which is less than her actual rental loss? What happens if her AGI was less than $100,000? Does she still get the $25,000 rental loss even though her actual rental loss was only $18,000? Please clarify. Thank you.