Texas Property Code

§ 112.086 — TAX-RELATED LIMITATIONS

PR § 112.086Title 9. TRUSTS · Part B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS · Ch. 112. CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUSTS · Art. D. DISTRIBUTION OF TRUST PRINCIPAL IN FURTHER TRUST

Statute text

View on source

(a)The authorized trustee may not distribute the principal of a trust under Section 112.072 or 112.073 in a manner that would prevent a contribution to that trust from qualifying for or that would reduce the exclusion, deduction, or other federal tax benefit that was originally claimed for that contribution, including:

(1)the annual exclusion under Section 2503(b), Internal Revenue Code of 1986;

(2)a marital deduction under Section 2056(a) or 2523(a), Internal Revenue Code of 1986;

(3)the charitable deduction under Section 170(a), 642(c), 2055(a), or 2522(a), Internal Revenue Code of 1986;

(4)direct skip treatment under Section 2642(c), Internal Revenue Code of 1986; or

(5)any other tax benefit for income, gift, estate, or generation-skipping transfer tax purposes under the Internal Revenue Code of 1986.

…

Legislative history

Added by Acts 2013, 83rd Leg., R.S., Ch. 699 (H.B. 2913), Sec. 3, eff. September 1, 2013.