For many race categories such as bingo or other categories that do not complete the game, timing usually begins from the start of a race file. A race file consists of the following things:
All Clocktown Cutscenes Cleared
101 Rupees in Bank
Clock Tower HP
Magic
Ocarina + Song of Time + Song of Healing
Deku Mask
Nothing equipped
You can't get any other items
Save at owl at 6:20am 1st day