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, § 28-4804.01 or § 28-4804.15 applies to a receipt from the trust.
D.C. Code § 28-4804.02
Distribution from trust or estate
Known as the Uniform Principal and Income Act
The act spans §§ 28-4801.01 to 28-4806.03 (33 sections).
Apr. 27, 2001, D.C
Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.