Colorado § 15-1.2-503 - Transfer from income to principal for depreciation - definition.
Full text of Colorado Colorado Revised Statutes § 15-1.2-503 — Transfer from income to principal for depreciation - definition., with citation guidance and answers to common questions.
§ 15-1.2-503. Transfer from income to principal for depreciation - definition.
(1) In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset having a useful life of more than one year.
(2) A fiduciary may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:
(a) Of the part of real property used or available for use by a beneficiary as a residence;
(b) Of tangible personal property held or made available for the personal use or enjoyment of a beneficiary; or
(c) Under this section, to the extent the fiduciary accounts:
(I) Under section 15-1.2-410 for the asset; or
(II) Under section 15-1.2-403 for the business or other activity in which the asset is used.
(3) An amount transferred to principal under this section need not be separately held.
Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 833, § 1, effective January 1, 2022.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 15-1.2-503
What does Colorado Revised Statutes § 15-1.2-503 cover?
Section 15-1.2-503 ("Transfer from income to principal for depreciation - definition.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. 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 Colorado § 15-1.2-503?
A common citation format is "Colorado Revised Statutes § 15-1.2-503" (Colorado). 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 Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-1.2-503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado 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 Colorado.