C.R.S. § 15-1.2-404

(1) A fiduciary shall allocate to principal: (a) To the extent not allocated to income under this article 1.2, an asset received from: (I) An individual during the individual’s lifetime; (II) An estate; (III) A trust on termination of an income interest; or (IV) A payor under a contract naming the fiduciary as beneficiary; (b) Except as otherwise provided in this part 4, money or other property received from the sale, exchange, liquidation, or change in form of a principal asset; (c) An amount recovered from a third party to reimburse the fiduciary because of a disbursement described in section 15-1.2-502 (1) or for another reason to the extent not based on loss of income; (d) Proceeds of property taken by eminent domain; except that proceeds awarded for loss of income in an accounting period are income if a current income beneficiary had a mandatory income interest during the period; (e) Net income received in an accounting period during which there is no beneficiary to which a fiduciary may or must distribute income; and (f) Other receipts as provided in sections 15-1.2-408 through 15-1.2-416 .