New York § 11-A-5.6 Adjustments between principal and income because of taxes

New York Statutes

§ 11-A-5.6 — Adjustments between principal and income because of taxes

New York § 11-A-5.6

Law EPTEstates, Powers & Trusts

Part 5Allocation of Disbursements During Administration of Trust

Art. 11-AUniform Principal and Income Act

This text of New York § 11-A-5.6 (Adjustments between principal and income because of taxes) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Estates, Powers & Trusts § 11-A-5.6 (2026).

Text

§ 11-A-5.6 Adjustments between principal and income because of taxes\n  A fiduciary may make adjustments between principal and income to\noffset the shifting of economic interests or tax benefits between income\nbeneficiaries and remainder beneficiaries which arise from:\n  (1) elections and decisions that the fiduciary makes from time to time\nregarding tax matters;\n  (2) an income tax or any other tax that is imposed upon the fiduciary\nor a beneficiary as a result of a transaction involving or a\ndistribution from the estate or trust; or\n  (3) the ownership by an estate or trust of an interest in an entity\nwhose taxable income, whether or not distributed, is includable in the\ntaxable income of the estate, trust, or a beneficiary.\n

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§ 11-A-5.6 Adjustments between principal and income because of taxes\n A fiduciary may make adjustments between principal and income to\noffset the shifting of economic interests or tax benefits between income\nbeneficiaries and remainder beneficiaries which arise from:\n (1) elections and decisions that the fiduciary makes from time to time\nregarding tax matters;\n (2) an income tax or any other tax that is imposed upon the fiduciary\nor a beneficiary as a result of a transaction involving or a\ndistribution from the estate or trust; or\n (3) the ownership by an estate or trust of an interest in an entity\nwhose taxable income, whether or not distributed, is includable in the\ntaxable income of the estate, trust, or a beneficiary.\n