Which of the following is not one of the phases of operatiosn in oil & gas taxation?

		Drilling
		Production
		Pricing
		Exploration

Taxpayer receives a lease bonus payment from an oil & gas operator. How will taxpayer report this income on their individual tax return?

		Rental Income
		Interest Income
		Dividend Income
		Wages

Which of the following is not one of the tests when identifying a qualified child as a dependent for tax purposes?

		Relationship Test
		Support Test
		Age Test
		Location Test

Taxpayer and Sibling pay support for their aging Father. Fathers total expenses for the year total $100,000. Taxpayer pays $30,000 of the expenses. Sibling pays $25,000 of the expenses. Father has no income. Sibling will not be claiming Father as a dependent. Is Taxpayer allowed to claim Father as a dependent for tax purposes?

Yes

No

Under the general rule when is the value of a stock option included in the gross income of a taxpayer?

		Grant Date
		Exercise Date
		Election Date
		Vest Date