{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.506","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.506","heading":"Adjustments between principal and income because of","body":"taxes.\n\nADJUSTMENTS BETWEEN PRINCIPAL AND INCOME BECAUSE OF TAXES\n\nA. A fiduciary may make adjustments between principal and\n\nincome to offset the shifting of economic interests or tax benefits\n\nbetween income beneficiaries and remainder beneficiaries which arise\n\nfrom:\n\n1. Elections and decisions, other than those described in\n\nsubsection B of this section, that the fiduciary makes from time to\n\ntime regarding tax matters;\n\n2. An income tax or any other tax that is imposed upon the\n\nfiduciary or a beneficiary as a result of a transaction involving or\n\na distribution from the estate or trust; or\n\n3. The ownership by an estate or trust of an interest in an\n\nentity whose taxable income, whether or not distributed, is\n\nincludable in the taxable income of the estate, trust, or a\n\nbeneficiary.\n\nB. If the amount of an estate tax marital deduction or\n\ncharitable contribution deduction is reduced because a fiduciary\n\ndeducts an amount paid from principal for income tax purposes\n\ninstead of deducting it for estate tax purposes, and as a result\n\nestate taxes paid from principal are increased and income taxes paid\n\nby an estate, trust, or beneficiary are decreased, each estate,\n\ntrust, or beneficiary that benefits from the decrease in income tax\n\nshall reimburse the principal from which the increase in estate tax\n\nis paid. The total reimbursement must equal the increase in the\n\nestate tax to the extent that the principal used to pay the increase\n\nwould have qualified for a marital deduction or charitable\n\ncontribution deduction but for the payment. The proportionate share\n\nof the reimbursement for each estate, trust, or beneficiary whose\n\nincome taxes are reduced must be the same as its proportionate share\n\nof the total decrease in income tax. An estate or trust shall\n\nreimburse principal from income.","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"413f19d4b78afa10ce668c154a4a148d8267fa72627302af621756b026a64875","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.505","next":"us-ok/okla.-stat.-tit.-60-60-175.51"},"notice":"GroundRules: Original legal text. Not legal advice."}