New Sec. 643 Trustee Capital Gain and Loss Carryout Regs. — footnotes

¹ TD 9102 (12/30/03).

² Uniform Principal and Income Act of 1997, available at www.law.upenn.edu/bll/ulc/upaia/2000final.htm. As of September 2005, 41 states and the District of Columbia had adopted it.

³ The “prudent investor” rule is codified in the Uniform Prudent Investor Act (1995), Section 2, available at www.law.upenn.edu/bll/ulc/fnact99/1990s/upia94.htm.

⁴ See Sec. 664(d)(2).

⁵ See Regs. Sec. 1.643(a)-3(b)(1) and (e), Example (4).

⁶ See Regs. Sec. 1.643(a)-3(b)(3) and (e), Examples (6), (7), (9) and (10).

⁷ See Regs. Sec. 1.643(a)-3(b)(2) and (e), Examples (1)–(3) and (5).

⁸ See Regs. Sec. 1.643(a)-3(b)(1) and (e), Examples (11)–(14).

⁹ See, e.g., TX Property Code 116.007.

¹⁰ See Regs. Sec. 1.643(a)-3(b)(1). The regulations contain no examples of allocating capital gain under a power to adjust.

¹¹ See TX Property Code 116.005.