{"data":{"id":"us-ct/conn.-gen.-stat.-45a-542z","jurisdiction":"us-ct","citation":"Conn. Gen. Stat. § 45a-542z","heading":"Transfers from income to principal for depreciation.","body":"(a) In 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.\n(b) 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(1) 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(2) During the administration of a decedent's estate; or\n(3) Under this section if the trustee is accounting under section 45a-542k for the business or activity in which the asset is used.\n(c) An amount transferred to principal need not be held as a separate fund.","path":["TITLE 45a. PROBATE COURTS AND PROCEDURE","CHAPTER 802c*. TRUSTS","PART VIII. CONNECTICUT UNIFORM PRINCIPAL AND INCOME ACT"],"source_url":"https://www.cga.ct.gov/current/pub/chap_802c.htm#sec_45a-542z","current_through":"Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)","vintage":"","retrieved_at":"2026-09-06T19:07:15Z","sha256":"accc02903ba7220d5bd60d6672363e5fc1b00c72c050f830d3bcf5ffb32a0740","source_id":"us-ct","stale":false,"prev":"us-ct/conn.-gen.-stat.-45a-542y","next":"us-ct/conn.-gen.-stat.-45a-542aa"},"notice":"GroundRules: Original legal text. Not legal advice."}