22-3-402 - Receipts from entities -- Distribution from trust or estate. - Utah Statutes

22-3-402. Receipts from entities -- Distribution from trust or estate.
A trustee shall allocate to income an amount received as a distribution of income from atrust or an estate in which the trust has an interest other than a purchased interest, and shallallocate 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 donortransfers an interest in such a trust to a trustee, Section 22-3-401 or 22-3-415 applies to a receiptfrom the trust.

Enacted by Chapter 285, 2004 General Session