{"data":{"id":"us-va/va.-code-64.2-1069","jurisdiction":"us-va","citation":"Va. Code § 64.2-1069","heading":"Income taxes","body":"A. A tax required to be paid by a fiduciary that is based on receipts allocated to income must be paid from income.B. A tax required to be paid by a fiduciary that is based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax by the taxing authority.C. Subject to subsection D and §§ 64.2-1067, 64.2-1068, and 64.2-1070, a tax required to be paid by a fiduciary on a share of an entity's taxable income in an accounting period must be paid from:1. Income and principal proportionately to the allocation between income and principal of receipts from the entity in the period; and2. Principal, to the extent the tax exceeds the receipts from the entity in the period.D. After applying subsections A, B, and C, a fiduciary shall adjust income or principal receipts, to the extent the taxes the fiduciary pays are reduced because of a deduction for a payment made to a beneficiary.2022, c. 354.","path":["Title 64.2. Wills, Trusts, and Fiduciaries","Subtitle III. Trusts","Chapter 10.1. Uniform Fiduciary Income And Principal Act","Article 7. Allocation of Disbursements"],"source_url":"https://law.lis.virginia.gov/vacode/64.2-1069/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:18:14Z","sha256":"5800e0e0721066f9b554c3ac0cc4467c28cd8048d285b0778f9d948e7aa68df7","source_id":"us-va","stale":true,"prev":"us-va/va.-code-64.2-1068","next":"us-va/va.-code-64.2-1070"},"notice":"GroundRules: Original legal text. Not legal advice."}