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.