O.C.G.A. § 53-12-452 (2019)

(a) As used in this Code section, the term ‘‘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 shall 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 Code section if the trustee is accounting under Code Section 53-12-412 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.