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Nevada Revised Statutes Title 13. Guardianships; Conservatorships; Trusts § 163.610. Trustee authorized to include certain capital gains in distributable net income in certain circumstances

Current as of January 01, 2021 | Updated by FindLaw Staff

Unless otherwise provided by the trust instrument, a trustee may include capital gains from the sale or exchange of capital assets in distributable net income to the extent the gains are, in a reasonable and impartial exercise of discretion by the trustee, allocated to:

1. Income pursuant to the power of the trustee to adjust between principal and income pursuant to NRS 164.795;

2. Principal and treated consistently by the trustee in the books, records and tax returns of the trust as part of the distribution to a beneficiary;  or

3. Principal but distributed to a beneficiary or utilized by the trustee in determining the amount that is distributed or required to be distributed to a beneficiary.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 13. Guardianships; Conservatorships; Trusts § 163.610. Trustee authorized to include certain capital gains in distributable net income in certain circumstances - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-13-guardianships-conservatorships-trusts/nv-rev-st-163-610/

Read this complete Nevada Revised Statutes Title 13. Guardianships; Conservatorships; Trusts § 163.610. Trustee authorized to include certain capital gains in distributable net income in certain circumstances on Westlaw

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