Alaska Statutes.
Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
Chapter 38. Alaska Principal and Income Act
Section 430. Power to Treat Gains as Part of Distribution of Principal.
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AS 13.38.430. Power to Treat Gains as Part of Distribution of Principal.

Unless prohibited by the unitrust's governing instrument or specifically addressed by AS 13.38.350 or 13.38.420, the trustee of a unitrust may treat gains from the sale of capital assets of the unitrust as part of a distribution of principal to a beneficiary, and, if the trustee treats those gains as part of a distribution of principal to a beneficiary, the trustee shall treat those gains consistently on the unitrust's books, records, and tax returns as part of a distribution to a beneficiary.

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