2-3-835. Trustee discretion to include capital gains in income.
(a) To the extent a trustee is given the power to make mandatory or discretionary distributions of income, the trustee may, on an annual basis, include realized capital gains in trust income and in determining section 643(a) of the Internal Revenue Code distributable net income, if the allocation is reasonable and impartial.
(b) To the extent a trustee is given the power to make mandatory or discretionary distributions of principal, the trustee may, on an annual basis, include realized capital gains in determining Section 643(a) Internal Revenue Code distributable net income, if the allocation is reasonable and impartial.
Structure Wyoming Statutes
Title 2 - Wills, Decedents' Estates and Probate Code
Article 8 - Principal and Income
Section 2-3-801 - Short Title.
Section 2-3-802 - Definitions.
Section 2-3-803 - Fiduciary Duties; General Principles.
Section 2-3-804 - Trustee's Power to Adjust; Liability of Trustee.
Section 2-3-806 - Determination and Distribution of Net Income.
Section 2-3-807 - Distribution to Residuary and Remainder Beneficiaries.
Section 2-3-808 - When Right to Income Begins and Ends.
Section 2-3-810 - Apportionment When Income Interest Ends.
Section 2-3-811 - Character of Receipts.
Section 2-3-812 - Distribution From Trust or Estate.
Section 2-3-813 - Business and Other Activities Conducted by Trustee.
Section 2-3-814 - Principal Receipts.
Section 2-3-815 - Rental Property.
Section 2-3-816 - Obligation to Pay Money.
Section 2-3-817 - Insurance Policies and Similar Contracts.
Section 2-3-818 - Insubstantial Allocation Not Required.
Section 2-3-819 - Deferred Compensation, Annuities and Similar Payments.
Section 2-3-820 - Liquidating Asset.
Section 2-3-821 - Minerals, Water and Other Natural Resources.
Section 2-3-823 - Property Not Productive of Income.
Section 2-3-824 - Derivatives and Options.
Section 2-3-825 - Asset-Backed Securities.
Section 2-3-826 - Disbursements From Income.
Section 2-3-827 - Disbursements From Principal.
Section 2-3-828 - Transfers From Income to Principal for Depreciation.
Section 2-3-829 - Transfers From Income to Reimburse Principal.
Section 2-3-830 - Income Taxes.
Section 2-3-831 - Adjustments Between Principal and Income.
Section 2-3-832 - Judicial Control of Discretionary Powers.
Section 2-3-833 - Uniformity of Application and Construction.
Section 2-3-834 - Application of Act to Trusts and Estates; Principal Place of Administration.
Section 2-3-835 - Trustee Discretion to Include Capital Gains in Income.