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CPA TCP (Tax Compliance and Planning) Key Concepts
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The Tax Compliance and Planning (TCP) CPA discipline exam focuses on advanced taxation, moving beyond the foundational REG core to cover complex, non-routine scenarios for individuals and entities.

Key concepts include advanced entity taxation, strategic tax planning, property transactions, and wealth management, with a strong emphasis on applying tax laws in practical simulations.

CPA TCP (Tax Compliance and Planning) Key Concepts
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25 Questions

1. What is the lifetime gift and estate tax exclusion amount?

2. What is the tax treatment for contributions to a Roth IRA?

3. What is a systematic risk?

4. What is the formula for Return on Investment (ROI)?

5. What is the treatment of gains from Section 291 for C corporations?

6. What is the tax treatment of ordinary income for services contributed in a partnership?

7. What is the deduction limit for charitable contributions to public or private charities?

8. What is the treatment of nonliquidating distributions in a partnership?

9. What is the maximum ownership percentage for an employee to qualify for Employee Stock Purchase Plans (ESPP)?

10. What are the characteristics of a corporation regarding gain/loss recognition?

11. What is the treatment of losses for related parties?

12. What is the GILTI tax?

13. What is the exercise price condition for Incentive Stock Options (ISO)?

14. What is the carryover limit for a Flexible Savings Account (FSA)?

15. What is the tax treatment of losses in flow-through entities?

16. What is the look-back period for Section 1231 gains?

17. What is the taxation of business entity income for C Corporations?

18. What activities are excluded from UBI?

19. What is the annual exclusion for gifts under gift taxation?

20. What is the significance of the adjusted basis in property distributed from a partnership?

21. What is the substantial presence test?

22. What happens to a partner's basis in a partnership upon liquidation?

23. What is the tax treatment of corporate distributions classified as dividends?

24. What is the tax treatment of trust income?

25. What is the treatment of distributions in excess of a partner's basis?

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