Section 22-3-402 - [Renumbered Effective 9/1/2024] Receipts from entity - Distribution from trust or estate(1) A fiduciary shall allocate: (a) to income an amount received as a distribution of income, including a unitrust distribution under Part 3, Unitrust, from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is an investment entity; and(b) to principal an amount received as a distribution of principal from the trust or estate.(2) If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, Section 22-3-401, 22-3-415, or 22-3-416 applies to a receipt from the trust.Renumbered as § 75A-5-402 by Chapter (number not assigned at time of publication), 2024 General Session ,§ 147, eff. 9/1/2024.Amended by Chapter 348, 2020 General Session ,§ 15, eff. 7/1/2020.Repealed and reenacted by Chapter 495, 2019 General Session ,§ 18, eff. 7/1/2020.Enacted by Chapter 285, 2004 General Session.