GroundRules
AS 13.38.860: Adjustments between principal and income because of taxes.
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 7. Allocation of Disbursements During Administration of Trust.
A trustee may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries that arise from
(1) an election or decision that the trustee makes regarding tax matters;
(2) an income tax or any other tax that is imposed on the trustee or a beneficiary as a result of a transaction involving the trust or distribution from the trust; or
(3) the ownership by a trust of an interest in an entity whose taxable income, whether or not distributed, is includable in the taxable income of the trust or a beneficiary.
Collected 2026-09-02T06:16:54Z. Source file · JSON