A trustee shall allocate to income an amount received as a distribution of income from a trust or a decedent’s estate (other than an interest in an investment entity) 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 the trust or estate.
(Added by Stats. 1999, Ch. 145, Sec. 5. Effective January 1, 2000.)
Last modified: October 25, 2018