{"data":{"id":"us-ky/krs-386.494","jurisdiction":"us-ky","citation":"KRS 386.494","heading":"Transfers from income to principal for depreciation.","body":"(1) In this section, \"depreciation\" means a reduction in value due to wear, tear, decay,\ncorrosion, or gradual obsolescence of a fixed asset having a useful life of more than\none (1) year.\n(2) A trustee may transfer to principal a reasonable amount of the net cash receipts from\na principal asset that is subject to depreciation, but shall not transfer any amount for\ndepreciation:\n(a) Of that portion of real property used or available for use by a beneficiary as a\nresidence or of tangible personal property held o r made available for the\npersonal use or enjoyment of a beneficiary; or\n(b) During the administration of a decedent's estate.\n(3) An amount transferred to principal need not be held as a separate fund.","path":["KRS Chapter 386"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35939","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:16Z","sha256":"cb3321c9b137ad349519f583dfa7b410fe3b78ae60b4b45e079944dd41f2abb2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386.492","next":"us-ky/krs-386.496"},"notice":"GroundRules: Original legal text. Not legal advice."}