(1) To the extent notallocated to income under this Chapter, assets received from a transferorduring the transferor's lifetime, a decedent's estate, a trust with aterminating income interest, or a payer under a contract naming the trust orits trustee as beneficiary;
(2) Money or otherproperty received from the sale, exchange, liquidation, or change in form of aprincipal asset, including realized profit, subject to this Article;
(3) Amounts recoveredfrom third parties to reimburse the trust because of disbursements described inG.S. 37A‑5‑502(a)(7) or for other reasons to the extent not basedon the loss of income;
(4) Proceeds of propertytaken by eminent domain, but a separate award made for the loss of income withrespect to an accounting period during which a current income beneficiary had amandatory income interest is income;
(5) Net income receivedin an accounting period during which there is no beneficiary to whom a trusteemay or shall distribute income; and
(6) Other receipts asprovided in Part 3 of this Article. (2003‑232, s. 2.)
(1) To the extent notallocated to income under this Chapter, assets received from a transferorduring the transferor's lifetime, a decedent's estate, a trust with aterminating income interest, or a payer under a contract naming the trust orits trustee as beneficiary;
(2) Money or otherproperty received from the sale, exchange, liquidation, or change in form of aprincipal asset, including realized profit, subject to this Article;
(3) Amounts recoveredfrom third parties to reimburse the trust because of disbursements described inG.S. 37A‑5‑502(a)(7) or for other reasons to the extent not basedon the loss of income;
(4) Proceeds of propertytaken by eminent domain, but a separate award made for the loss of income withrespect to an accounting period during which a current income beneficiary had amandatory income interest is income;
(5) Net income receivedin an accounting period during which there is no beneficiary to whom a trusteemay or shall distribute income; and
(6) Other receipts asprovided in Part 3 of this Article. (2003‑232, s. 2.)
(1) To the extent notallocated to income under this Chapter, assets received from a transferorduring the transferor's lifetime, a decedent's estate, a trust with aterminating income interest, or a payer under a contract naming the trust orits trustee as beneficiary;
(2) Money or otherproperty received from the sale, exchange, liquidation, or change in form of aprincipal asset, including realized profit, subject to this Article;
(3) Amounts recoveredfrom third parties to reimburse the trust because of disbursements described inG.S. 37A‑5‑502(a)(7) or for other reasons to the extent not basedon the loss of income;
(4) Proceeds of propertytaken by eminent domain, but a separate award made for the loss of income withrespect to an accounting period during which a current income beneficiary had amandatory income interest is income;
(5) Net income receivedin an accounting period during which there is no beneficiary to whom a trusteemay or shall distribute income; and
(6) Other receipts asprovided in Part 3 of this Article. (2003‑232, s. 2.)
