Alaska § 13.38.350 - Unitrust deductions and distributions.
Full text of Alaska Alaska Statutes § 13.38.350 — Unitrust deductions and distributions., with citation guidance and answers to common questions.
§ 13.38.350. Unitrust deductions and distributions.
(a) Expenses that would be deducted from income if the trust were not a unitrust may not be deducted from the unitrust distribution.
(b) Unless otherwise provided by the governing instrument, a unitrust distribution shall be considered to have been paid from net income as net income would be determined if the trust were not a unitrust. To the extent net income is insufficient, the unitrust distribution shall be considered to have been paid from ordinary income that is allocable under federal income tax rules to net income as determined for a unitrust. To the extent that the ordinary income is insufficient, the unitrust distribution is considered to have been paid from net realized short-term capital gains. To the extent net income, ordinary income, and net realized short-term capital gains are insufficient, the unitrust distribution shall be considered to have been paid from net realized long-term capital gains. To the extent net income, ordinary income, and net realized short-term and long-term capital gains are insufficient, the unitrust distribution shall be paid from the principal of the trust.
Frequently Asked Questions About Alaska § 13.38.350
What does Alaska Statutes § 13.38.350 cover?
Section 13.38.350 ("Unitrust deductions and distributions.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 13.38.350?
A common citation format is "Alaska Statutes § 13.38.350" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 13.38.350 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.