Georgia § 53-12-452 Transfers from income to principal for depreciation

Georgia Statutes

§ 53-12-452 — Transfers from income to principal for depreciation

Georgia § 53-12-452

Title53

This text of Georgia § 53-12-452 (Transfers from income to principal for depreciation) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 53-12-452 (2026).

Text

(a)As used in this Code section, the term "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than one year.

(b)A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation but shall not transfer any amount for depreciation:

(1)Of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary;

(2)During the administration of a decedent's estate; or (3) Under this Code section if the trustee is accounting under Code Section 53-12-412 for the business or activity in which the asset is used

Free access — add to your briefcase to read the full text and ask questions with AI

(a) As used in this Code section, the term "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than one year. (b) A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation but shall not transfer any amount for depreciation: (1) Of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary; (2) During the administration of a decedent's estate; or (3) Under this Code section if the trustee is accounting under Code Section 53-12-412 for the business or activity in which the asset is used. (c) An amount transferred to principal need not be held as a separate fund.