{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.718","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.718","heading":"Tax-related limitations","body":"TAX-RELATED LIMITATIONS\n\nA. The authorized trustee shall not distribute the principal of\n\na trust under Section 3 or 4 of this act in a manner that would\n\nprevent a contribution to that trust from qualifying for or that\n\nwould reduce the exclusion, deduction or other federal tax benefit\n\nthat was originally claimed for that contribution, including:\n\n1. The annual exclusion under Section 2503(b) of the Internal\n\nRevenue Code of 1986, as amended;\n\n2. A marital deduction under Section 2056(a) or 2523(a) of the\n\nInternal Revenue Code of 1986, as amended;\n\n3. The charitable deduction under Section 170(a), 642(c),\n\n2055(a), or 2522(a) of the Internal Revenue Code of 1986, as\n\namended;\n\n4. Direct skip treatment under Section 2642(c) of the Internal\n\nRevenue Code of 1986, as amended; or\n\n5. Any other tax benefit for income, gift, estate, or\n\ngeneration-skipping transfer tax purposes under the Internal Revenue\n\nCode of 1986, as amended.\n\nB. Notwithstanding subsection A of this section, an authorized\n\ntrustee may distribute the principal of a first trust to a second\n\ntrust regardless of whether the settlor is treated as the owner of\n\neither or both trusts under the Internal Revenue Code, 26 U.S.C.,\n\nSections 671 through 679, as amended.\n\nC. If S corporation stock is held in trust, an authorized\n\ntrustee shall not distribute all or part of that stock under Section\n\n3 or 4 of this act to a second trust that is not a permitted\n\nshareholder under the Internal Revenue Code, 26 U.S.C., Section\n\n1361(c)(2), as amended.\n\nD. If an interest in property that is subject to the minimum\n\ndistribution rules of the Internal Revenue Code, 26 U.S.C., Section\n\n401(a)(9), as amended, is held in trust, an authorized trustee shall\n\nnot distribute the trust's interest in the property to a second\n\ntrust under Section 3 or 4 of this act if the distribution would\n\nshorten the minimum distribution period applicable to the property.","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":"0930c4543f01ad6baed93f78813964dc5f888bf0171e29ba776d7147ceb1527f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.717","next":"us-ok/okla.-stat.-tit.-60-60-175.719"},"notice":"GroundRules: Original legal text. Not legal advice."}