Ind. Code § 30-2-14-24

Current through P.L. 171-2024

Section 30-2-14-24 - Distributions of principal and income from trust or estate

A trustee shall allocate to:

(1) income an amount received as a distribution of income; and

(2) principal an amount received as a distribution of principal;

from a trust or an estate in which the trust has an interest other than a purchased interest. 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, section 23 or 37 of this chapter applies to a receipt from the trust.

IC 30-2-14-24

As added by P.L. 84-2002, SEC.2.