Delaware Code (Titles 8, 9, 25, 30)
30 Del. C. § 1634
Fiduciary adjustment
# (a)
Fiduciary adjustment defined. — The fiduciary adjustment shall be the net amount of the modifications described in § 1106 of this title (including subsection (c) of § 1106 of this title if the estate or trust is a beneficiary of another estate or trust) which relate to items of income or deduction of an estate or trust.
# (b)
Shares of fiduciary adjustment. — The respective shares of an estate or trust and its beneficiaries (including solely for the purpose of this allocation, nonresident beneficiaries) in the fiduciary adjustment shall be in proportion to their respective shares of the federal distributable net income of the estate or trust. If the estate or trust has no federal distributable net income for the taxable year, the share of each beneficiary in the fiduciary adjustment shall be in proportion to the beneficiary’s share of the estate or trust income for such year, under local law or the terms of the governing instrument, which is required to be distributed currently and any other amounts of such income distributed in such taxable year. Any balance of the fiduciary adjustment shall be allocated to the estate or trust.
Amendment history
72 Del. Laws, c. 467, § 1
Source: view the official text
In this title (40 sections)
- 30-1504 · Tax on transfers of nonresident estates [For application of…
- 30-1505 · Returns; time to file return and pay tax [For application of…
- 30-1506 · Collection and payment of tax out of estate; liability of the…
- 30-1507 · Assessment of tax; special lien for estate taxes [For…
- 30-1508 · Final settlement of executor’s or administrator’s accounts…
- 30-1509 · , 1510. Refund of taxes erroneously paid; procedure and…
- 30-1601 · Definitions
- 30-1602 · Taxable year
- 30-1603 · Accounting method
- 30-1604 · Adjustments
- 30-1605 · Returns
- 30-1606 · Withholding of income tax on sale or exchange of real estate…
- 30-1621 · Taxation of pass-through entities; in general
- 30-1622 · Character of items
- 30-1623 · Special rules for nonresident individual members and…
- 30-1624 · Special rules for certain tax credits of pass-through entities
- 30-1625 · Special rules for certain tax deductions for pass-through…
- 30-1631 · Imposition of tax
- 30-1632 · Computation and payment
- 30-1633 · Tax not applicable
- 30-1634 · Fiduciary adjustment
- 30-1635 · Taxable income of resident estate or resident trust
- 30-1636 · Nonresident beneficiary deduction for resident estates or…
- 30-1637 · Credit for income tax of another state
- 30-1638 · Accumulation distribution credit for resident beneficiary of…
- 30-1639 · Taxable income of a nonresident estate or nonresident trust
- 30-1640 · Share of a nonresident estate, nonresident trust or its…
- 30-1701 · Definitions
- 30-1702 · Election to invoke chapter
- 30-1703 · Compromise of death taxes due this State
- 30-1704 · Arbitration of domicile of decedent
- 30-1705 · Penalty and interest for nonpayment of tax
- 30-1706 · Reciprocal application
- 30-1801 · Short title
- 30-1802 · Findings and purpose
- 30-1803 · Definitions
- 30-1804 · Tax credit available; land conveyed for conservation and…
- 30-1805 · Administration
- 30-1806 · Applicability, fiscal limitation and renewal
- 30-1807 · Construction