{"data":{"id":"us-az/a.r.s.-14-7427","jurisdiction":"us-az","citation":"A.R.S. § 14-7427","heading":"Transfers from income to principal for depreciation; definition","body":"A. A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation but may not transfer any amount for depreciation:\n\n1. Of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary.\n\n2. During the administration of a decedent's estate.\n\n3. Under this section if the trustee is accounting under section 14-7412 for the business or activity in which the asset is used.\n\nB. An amount transferred to principal need not be held as a separate fund.\n\nC. For the purposes of this section, \"depreciation\" means a reduction in value due to wear, tear, decay, corrosion or gradual obsolescence of a fixed asset having a useful life of more than one year.","path":["Title 14 Trusts, Estates and Protective Proceedings"],"source_url":"https://www.azleg.gov/ars/14/07427.htm","current_through":"2026-09-04","vintage":"2026-08-09","retrieved_at":"2026-09-04T00:49:56Z","sha256":"4b09095f5fedcf6923cb2e751fbdfed39b47732fddd615d59122802fedc72074","source_id":"us-az","stale":true,"prev":"us-az/a.r.s.-14-7426","next":"us-az/a.r.s.-14-7428"},"notice":"GroundRules: Original legal text. Not legal advice."}