GroundRules
AS 13.38.430: Power to treat gains as part of distribution of principal.
Where this section sits in the code
- Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions.
- Chapter 38. Alaska Principal and Income Act.
- Article 2. Unitrusts.
Unless prohibited by the unitrust's governing instrument or specifically addressed by AS 13.38.350 or 13.38.420, the trustee of a unitrust may treat gains from the sale of capital assets of the unitrust as part of a distribution of principal to a beneficiary, and, if the trustee treats those gains as part of a distribution of principal to a beneficiary, the trustee shall treat those gains consistently on the unitrust's books, records, and tax returns as part of a distribution to a beneficiary.
Collected 2026-09-02T06:16:54Z. Source file · JSON