{"data":{"id":"us-dc/d.c.-code-28-4805.03","jurisdiction":"us-dc","citation":"D.C. Code § 28-4805.03","heading":"Transfers from income to principal for depreciation.","body":"(a)\nFor the purposes of this section, the term “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\n(b)\nA 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)\nOf 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)\nDuring the administration of a decedent’s estate; or\n(3)\nUnder this section if the trustee is accounting under § 28-4804.03 for the business or activity in which the asset is used.\n\n(c)\nAn amount transferred to principal need not be held as a separate fund.","path":["Title 28. Commercial Instruments and Transactions. [Enacted title]","Chapter 48. Principal and Income; Uniform Law.","Subchapter V. Allocation Of Disbursements During Administration Of Trust."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/28-4805.03","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"60ad37b34ca2fd83b94925b79f8f5159f29a54217d4a0aa7edc093b684516c34","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-28-4805.02","next":"us-dc/d.c.-code-28-4805.04"},"notice":"GroundRules: Original legal text. Not legal advice."}