1. An amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease, must be allocated to income. 2. An amount received as a refundable deposit, including a security deposit or a deposit that isto be applied as rent for future periods, must be added to principal and held subject to the terms of the lease and isnot available for distribution to a beneficiary until the trustee’s contractual obligations have been satisfied with respect to that amount.
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