In May of 2020, the AICPA released dozens of Multiple Choice Questions that had recently been tested on the CPA Regulation Exam. When NASBA and the AICPA release these questions, they release the letter answer without the explanations. Candidates should have an understanding of these questions before going to the Prometric Testing Center but be sure not to obsess over any one particular question as these questions are NOT likely to appear on the exam in the exact same format. For that reason, Darius Clark tries to anticipate what the next question might look like based on the question that was released. Because Darius works with CPA Candidates and CPA Review material every day, he knows better than most what the CPA Exam is likely to ask with regard to any given topic. The REG topics that were included in the May 2020 release questions include Individual Taxation, Dependents, Filing Status, Gross Income, Schedule C, interest and dividend income, Deductions to arrive at AGI, itemized deductions such as medical expenses which are now subject to 7.5% of AGI, not 10%. Other REG Topics released include Like Kind Exchanges, Partnership questions on partner basis, how much is taxable, and sale of partner interest. S Corporations were tested also including basis of S Corp shareholder, how much is taxable and who is eligible to be an S Corp shareholder. There were also questions asked about C Corporations, distributions, corporate deductions, and book income to taxable income, the M-1 reconciliation. Business Law questions included bankruptcy, property, contracts, agency, secured transactions and sale of goods under the UCC. There were no questions released on multi jurisdictional tax but there were questions released on estate and trust taxation. This is the first of the four video series where Darius narrates and explains the AICPA REG Questions from May 2020. The complete four video presentation appears in the i-75 CPA Review Course in the last Chapter of Regulation.