Section 11.104B.420 - Disbursements-Transfer from income to principal for depreciation(1) In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset having a useful life of more than one year.(2) A fiduciary 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: (a) Of the part of real property used or available for use by a beneficiary as a residence;(b) Of tangible personal property held or made available for the personal use or enjoyment of a beneficiary; or(c) Under this section, to the extent the fiduciary accounts:(i) Under RCW 11.104B.290 for the asset; or(ii) Under RCW 11.104B.220 for the business or other activity in which the asset is used.(3) An amount transferred to principal under this section need not be separately held.