Current as of January 01, 2019 | Updated by FindLaw Staff
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A trustee may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from any of the following:
(1) An election or decision which the trustee makes regarding tax matters.
(2) An income tax or any other tax which is imposed upon the trustee or a beneficiary as a result of a transaction involving the trust or distribution from the trust.
(3) The ownership by a trust of an interest in an entity the taxable income of which, whether or not distributed, is includable in the taxable income of the trust or a beneficiary.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 20 Pa.C.S.A. Decedents, Estates and Fiduciaries § 8167. Adjustments between principal and income because of taxes - last updated January 01, 2019 | https://codes.findlaw.com/pa/title-20-pacsa-decedents-estates-and-fiduciaries/pa-csa-sect-20-8167.html
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