Unless prohibited by the will or trust instrument, a 32701.1108 TRUSTS fiduciary may cause gains from the sale or exchange of estate or trust property, as determined for federal income tax purposes, to be taxed for federal income tax purposes as part of a distribution of income that has been increased by an adjustment from principal to income under s. 701.1104, of a unitrust distribution, of a fixed annuity distribution, or of a principal distribution to a beneficiary.
Wis. Stat. § 701.1108
Power to treat capital gains as part of a distribution
Known as the Wisconsin Uniform Principal and Income Act
The act spans §§ 701.1101 to 701.1136 (36 sections).
2013 a. 92 s. 244.
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.