{"data":{"id":"us-ga/o.c.g.a.-53-12-452","jurisdiction":"us-ga","citation":"O.C.G.A. § 53-12-452","heading":"Transfers from income to principal for depreciation.","body":"(a) As used in this Code 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(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 shall 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 Code section if the trustee is accounting under Code Section 53-12-412 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 53 Wills, Trusts, and Administration of Estates","CHAPTER 12 Trusts","Article 17 Georgia Principal and Income Act","PART 5 Allocation of Disbursements During Administration of Trust"],"source_url":"https://archive.org/download/gov.ga.ocga.2018/release86.2022.11/gov.ga.ocga.title.53.odt","current_through":"Release 86 (2022-11)","vintage":"Public.Resource.Org bulk O.C.G.A., Release 86 (2022-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T19:34:58Z","sha256":"a5853b6c8b98e64e350ff70a7c4acaa6af1123f007b2722e79f377d8055571c1","source_id":"us-ga","stale":false,"prev":"us-ga/o.c.g.a.-53-12-451","next":"us-ga/o.c.g.a.-53-12-453"},"notice":"GroundRules: Original legal text. Not legal advice."}