14-7411. Distribution from trust or estate
A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. If a trustee purchases an interest in a trust that is an investment entity or a decedent or donor transfers an interest in such a trust to a trustee, section 14-7410 or 14-7424 applies to a receipt from the trust.
Section: Previous 14-7404 14-7405 14-7406 14-7407 14-7408 14-7409 14-7410 14-7411 14-7412 14-7413 14-7414 14-7415 14-7416 14-7417 14-7418 NextLast modified: October 13, 2016