Wyoming § 2-3-909 Treatment and allocation of income

Wyoming Statutes

§ 2-3-909 — Treatment and allocation of income

Wyoming § 2-3-909

Title 02Wills, Decedents' Estates and Probate Code

Ch. 3FIDUCIARIES

Art. 9WYOMING UNITRUST ACT

This text of Wyoming § 2-3-909 (Treatment and allocation of income) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 2-3-909 (2026).

Text

(a)Following the conversion of an income trust to a total return unitrust or upon creation of a total return unitrust by a settlor, the trustee:

(i)Shall treat the unitrust amount as net income of the trust for purposes of determining the amount available, from time to time, for distribution from the trust; and

(ii)May allocate to trust income for each taxable year of the trust, or portion thereof:

(A)Net short-term capital gain described in Internal Revenue Code § 1222(5) for the year, or portion thereof, but only to the extent that the amount so allocated together with all other amounts allocated to trust income for the year, or portion thereof does not exceed the unitrust amount for the year, a portion thereof; and

(B)Net long-term capital gain described in Internal Revenue Code §

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(a) Following the conversion of an income trust to a total
return unitrust or upon creation of a total return unitrust by a
settlor, the trustee:
(i) Shall treat the unitrust amount as net income of
the trust for purposes of determining the amount available, from
time to time, for distribution from the trust; and
(ii) May allocate to trust income for each taxable
year of the trust, or portion thereof:
(A) Net short-term capital gain described in
Internal Revenue Code § 1222(5) for the year, or portion
thereof, but only to the extent that the amount so allocated
together with all other amounts allocated to trust income for
the year, or portion thereof does not exceed the unitrust amount
for the year, a portion thereof; and
(B) Net long-term capital gain described in
Internal Revenue Code § 1222(7) for the year, or portion
thereof, but only to the extent that the amount so allocated
together with all other amounts, including amounts described in
subparagraph (A) of this paragraph, allocated to trust income
for the year, or portion thereof, does not exceed the unitrust
amount for the year, or portion thereof.