Question
List some common examples of principal and income items under the Uniform Act. a. Under the 2000 Uniform Act, common examples of principal include the
List some common examples of principal and income items under the Uniform Act.
a. Under the 2000 Uniform Act, common examples of principal include the gain (plus return of capital) upon the disposition of an asset owned by the fiduciary. Common examples of income include dividends, interest and rents.
b. Under the 2000 Uniform Act, common examples of principal include net profits of a business and capital gains. Common examples of income include interest, dividends, and rents.
c. Under the 2000 Uniform Act, common examples of principal include net profits of a business, principal payments on debts, and dividends. Common examples of income include rents, capital gains, and stock dividends.
d. Under the 2000 Uniform Act, common examples of principal include the gain (plus return of capital) upon the disposition of an asset owned by the fiduciary and net profits of a business. Common examples of income include capital gains, stock dividends, and any depreciation associated with assets.
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