About this event

Speaker Dr. John Tripp, Daniels College of Business, Graduate Tax Program, University of Denver

Fee $320 members, $410 nonmembers

Learning Objectives This program will provide experienced practitioners with in-depth coverage of complex issues encountered in the acquisition, operation and disposition of oil and gas properties. It will also bring practitioners up-to-date by focusing on current developments relating to the major tax principles applicable to upstream operations.


  • to determine the proper cost depletion and percentage depletion for each unit of property including barrel limitations, taxable income from the property limitations, and the 65% of the taxpayer's taxable income limitation and the use of depletion carryovers;
  • to understand the proper tax treatment of sharing arrangements and carried interests;
  • to determine the proper tax consequences upon the sale or abandonment of an oil and gas mineral interest;
  • to understand the AMT issues relating to the ICD tax preference item and the election to capitalize IDCs under section 59(e) to help ameliorate the AMT burden; and
  • to properly apply the like-kind exchange rules regarding exchanges of oil and gas properties, including the Section 1254 recapture provisions.

Delivery Method Group live

Hours and field of study 8 hours CPE credit awarded for completion; tax; technical.

Level Advanced

Prerequisites/advance preparation General understanding of federal income taxation, and an understanding of the fundamental concepts of income taxation of the oil and gas industry.

Location: Fort Worth Chapter TSCPA classroom, 550 Bailey Suite 225, Fort Worth, TX 76107. To search for convenient hotels, we suggest using Marriott.com and searching with the 76107 zip code; there are several nearby properties.

Included in your registration: Digital materials. Free wifi and parking. Sodas, water, coffee and box lunch.

Contact cpeinfo@fortworthcpa.org

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Oil and Gas Tax: Advanced

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