Section 62-7-927 - Transfer to principal of cash receipts from asset subject to depreciation(A) In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than one year.(B) A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation: (1) of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary;(2) during the administration of a decedent's estate; or(3) under this section if the trustee is accounting pursuant to Section 62-7-912 for the business or activity in which the asset is used.(C) An amount transferred to principal need not be held as a separate fund.Amended by 2013 S.C. Acts, Act No. 100 (SB 143), s 2, eff. 1/1/2014.2005 Act No. 66, Section 1.