[ Editor's note: This section is effective January 1, 2022. ] A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under part 3 of this article 1.2, 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 shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, section 15-1.2-401, 15-1.2-415, or 15-1.2-416 apply to a receipt from the trust.
Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 822, § 1, effective January 1, 2022.
Structure Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 1.2 - Uniform Fiduciary Income and Principal Act
Part 4 - Allocation of Receipts
§ 15-1.2-401. Character of Receipts From Entity - Definitions
§ 15-1.2-402. Distribution From Trust or Estate
§ 15-1.2-403. Business of Other Activity Conducted by Fiduciary
§ 15-1.2-404. Principal Receipts
§ 15-1.2-406. Receipt on Obligation to Be Paid in Money
§ 15-1.2-407. Insurance Policy or Contract
§ 15-1.2-408. Insubstantial Allocation Not Required
§ 15-1.2-409. Deferred Compensation, Annuity, or Similar Payment - Definitions
§ 15-1.2-410. Liquidating Asset - Definition
§ 15-1.2-411. Minerals, Water, and Other Natural Resources
§ 15-1.2-413. Marital Deduction Property Not Productive of Income
§ 15-1.2-414. Derivative or Option - Definition