New Mexico § 46-3A-108 Distribution of total return trust

New Mexico Statutes

§ 46-3A-108 — Distribution of total return trust

New Mexico § 46-3A-108

Ch. 46Fiduciaries and Trusts

Art. 1DEFINITIONS AND FIDUCIARY DUTIES

This text of New Mexico § 46-3A-108 (Distribution of total return trust) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 46-3A-108 (2026).

Text

A. Expenses, taxes and other charges that would otherwise be deducted from income if the trust was not a total return trust may not be deducted from the distribution amount. B. Unless otherwise provided by the governing instrument, the distribution amount each year shall be deemed to be paid from the following sources for that year in the following order:

(1)net income determined as if the trust were not a total return trust;

(2)other ordinary income as determined for federal income tax purposes;

(3)net realized short-term capital gains as determined for federal income tax purposes;

(4)net realized long-term capital gains as determined for federal income tax purposes;

(5)trust principal comprising assets for which there is a readily available market value; and (6) other trust principa

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A. Expenses, taxes and other charges that would otherwise be deducted from income if the trust was not a total return trust may not be deducted from the distribution amount. B. Unless otherwise provided by the governing instrument, the distribution amount each year shall be deemed to be paid from the following sources for that year in the following order: (1) net income determined as if the trust were not a total return trust; (2) other ordinary income as determined for federal income tax purposes; (3) net realized short-term capital gains as determined for federal income tax purposes; (4) net realized long-term capital gains as determined for federal income tax purposes; (5) trust principal comprising assets for which there is a readily available market value; and (6) other trust principal.