43-1333. Fiduciary adjustment; allocation of
shares
A. The fiduciary adjustment for a resident estate or trust shall be the net amount
of the additions and subtractions required by sections 43-1021 and 43-1022 including the
addition required by section 43-1021, paragraph 1 or the subtraction required by section
43-1022, paragraph 3 if the estate or trust is a beneficiary of another estate or trust.
B. In the case of a nonresident estate or trust, the fiduciary adjustment shall be
the net amount of the additions and subtractions required by sections 43-1021 and 43-1022
that are derived from or related to income from sources within this state.
C. The estate or trust and its beneficiaries shall apportion the fiduciary
adjustment in the same proportion as their respective shares of federal distributable net
income of the estate or trust.
D. 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 the year, under local law or
terms of the instrument, that is required to be distributed currently and any other
amounts of the income distributed in the year. Any balance of the fiduciary adjustment
shall be allocated to the estate or trust.
E. In the case of a nonresident beneficiary of an estate or trust, including a
nonresident estate or trust that is a beneficiary of another estate or trust, the
addition required by section 43-1021, paragraph 1 or the subtraction required by section
43-1022, paragraph 3 shall be limited to that portion of the beneficiary's share of the
fiduciary adjustment that is derived from or related to income from sources within this
state.
F. Notwithstanding subsection A of this section, a trust established as a medical
savings account trust pursuant to section 43-1028 shall not add the amount of interest
income received on obligations of a state, territory or possession of the United States,
or a political subdivision of a state, territory or possession of the United States that
is located outside of this state.
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