N.Y. Est. Powers & Trusts Law § 11-a-4.2

§ 11-A-4.2 Distribution from trust or estate\n A trustee shall allocate to income an amount received as a\ndistribution of income from a trust or an estate in which the trust has\nan interest other than a purchased interest, and shall allocate to\nprincipal an amount received as a distribution of principal from such a\ntrust or estate. If a trustee purchases an interest in a trust that is\nan investment entity, or a decedent or donor transfers an interest in\nsuch a trust to a trustee, 11-A-4.1 or 11-A-4.15 applies to a receipt\nfrom the trust.\n