{"data":{"id":"us-nv/nrs-164.920","jurisdiction":"us-nv","citation":"NRS 164.920","heading":"Payment of taxes required to be paid by trustee.","body":"1. A tax required to be paid by a trustee based on receipts allocated to income must be paid from income.\n2. A tax required to be paid by a trustee based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax by the taxing authority.\n3. A tax required to be paid by a trustee on the trust’s share of an entity’s taxable income must be paid:\n(a) From income to the extent that receipts from the entity are allocated only to income;\n(b) From principal to the extent that receipts from the entity are allocated only to principal;\n(c) Proportionately from principal and income to the extent that receipts from the entity are allocated to both income and principal; and\n(d) From principal to the extent that the tax exceeds the total receipts from the entity.\n4. After applying the provisions of subsections 1, 2 and 3, the trustee shall adjust income or principal receipts to the extent that the taxes on the trust are reduced because the trust receives a deduction for payments made to a beneficiary.","path":["TITLE 13 — GUARDIANSHIPS; CONSERVATORSHIPS; TRUSTS","CHAPTER 164 - ADMINISTRATION OF TRUSTS","MANAGEMENT AND INVESTMENT OF PROPERTY","Principal and Income (Uniform Act)"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-164.html#NRS164Sec920","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:33Z","sha256":"c46411cbb4b74197fb2c7d54f70284fb616864d3defd08b9566b9057d91dcb8a","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-164.915","next":"us-nv/nrs-164.925"},"notice":"GroundRules: Original legal text. Not legal advice."}