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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 maximum amount an employee can acquire through ESPP in one year?

2. What happens to gain or loss in an installment sale?

3. What is the limitation for the Foreign Tax Credit?

4. What is the formula for calculating gain or loss on disposition of property?

5. What is the treatment of guaranteed payments in a partnership?

6. What activities are excluded from UBI?

7. What is the treatment of treasury and capital stock in a corporation?

8. What is the purpose of the Accumulated Adjustments Account (AAA)?

9. What is the arm's-length principle in transfer pricing?

10. What is the difference between a foreign branch and a foreign subsidiary?

11. What is the basis of new property in a like-kind exchange?

12. What is the GILTI tax?

13. What is the AGI phase-out range for the rental real estate loss deduction?

14. What is the maximum deduction for rental real estate losses under the Mom and Pop exception?

15. What types of income are excluded from Unrelated Business Income (UBI)?

16. What is the difference between grantor and non-grantor trusts?

17. What is the tax treatment of C Corporation distributions?

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

19. What happens to distributions from an S Corporation?

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

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

22. What is the tax treatment for distributions from a Traditional IRA?

23. What is the carryback and carryforward period for Net Operating Losses (NOL) generated before 2018?

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

25. What is the tax treatment of capital gains in a partnership?

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