{"data":{"id":"us-co/c.r.s.-15-1.2-503","jurisdiction":"us-co","citation":"C.R.S. § 15-1.2-503","heading":"Transfer from income to principal for depreciation - definition.","body":"(1) In this section, \"depreciation\" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset having a useful life of more than one year.\n\n(2) A fiduciary 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\n(a) Of the part of real property used or available for use by a beneficiary as a residence;\n\n(b) Of tangible personal property held or made available for the personal use or enjoyment of a beneficiary; or\n\n(c) Under this section, to the extent the fiduciary accounts:\n\n(I) Under section 15-1.2-410 for the asset; or\n\n(II) Under section 15-1.2-403 for the business or other activity in which the asset is used.\n\n(3) An amount transferred to principal under this section need not be separately held.","path":["Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES","Article 1.2 - Uniform Fiduciary Income and Principal Act","Part 5 - ALLOCATION OF DISBURSEMENTS"],"source_url":"https://olls.info/crs/crs2026-title-15.htm","current_through":"Colorado Revised Statutes 2026","vintage":"","retrieved_at":"2026-09-14T18:37:45Z","sha256":"c9af55c496df629a0cf37825533fd122b97cf5e53df6a5bc303c8278a613b089","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-15-1.2-502","next":"us-co/c.r.s.-15-1.2-504"},"notice":"GroundRules: Original legal text. Not legal advice."}