{"data":{"id":"us-ks/k.s.a.-58-9a-503","jurisdiction":"us-ks","citation":"K.S.A. 58-9a-503","heading":"Transfer 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 tangible asset having a useful life of more than one year.\n(b) 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(1) Of the part of real property used or available for use by a beneficiary as a residence;\n(2) of tangible personal property held or made available for the personal use or enjoyment of a beneficiary; or\n(3) under this section, to the extent the fiduciary accounts:\n(A) Under K.S.A. 58-9a-410, and amendments thereto, for the asset; or\n(B) under K.S.A. 58-9a-403, and amendments thereto, for the business or other activity in which the asset is used.\n(c) An amount transferred to principal under this section need not be separately held.","path":["Chapter 58.—PERSONAL AND REAL PROPERTY","Article 9a.—UNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT"],"source_url":"https://www.ksrevisor.gov/statutes/chapters/ch58/058_009a_0503.html","current_through":"2025 legislative session","vintage":"","retrieved_at":"2026-10-15T06:21:01Z","sha256":"32c8453b04e38d4747d81e3b6d50df8648736801d3038982a8fecaeed1ebe191","source_id":"us-ks","stale":false,"prev":"us-ks/k.s.a.-58-9a-502","next":"us-ks/k.s.a.-58-9a-504"},"notice":"GroundRules: Original legal text. Not legal advice."}