Section 75A-5-408 - Receipts normally apportioned - Insubstantial allocation not required(1) If a fiduciary determines that an allocation between income and principal required by Section 75A-5-409, 75A-5-410, 75A-5-411, 75A-5-412, or 75A-5-415 is insubstantial, the fiduciary may allocate the entire amount to principal, unless Subsection 75A-5-203(5) applies to the allocation.(2) A fiduciary may presume an allocation is insubstantial under Subsection (1) if: (a) the amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than 10%; and(b) the asset producing the receipt to be allocated has a fair market value less than 10% of the total fair market value of the assets owned or held by the fiduciary at the beginning of the accounting period.(3) The power to make a determination under Subsection (1) may be: (a) exercised by a co-fiduciary in the manner described in Subsection 75A-5-203(6); or(b) released or delegated for a reason described in Subsection 75A-5-203(7) and in the manner described in Subsection 75A-5-203(8).Renumbered from § 22-3-408 and amended by Chapter 364, 2024 General Session ,§ 153, eff. 9/1/2024.Repealed and reenacted by Chapter 495, 2019 General Session ,§ 24, eff. 7/1/2020.Enacted by Chapter 285, 2004 General Session.