Receipts from entity -- Distribution from trust or estate.
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(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.