New York Laws
Sub Part 1 - Receipts From Entities
11-A-4.2 - Distribution From Trust or Estate

A trustee shall allocate to income an amount received as a
distribution of income from a trust or an estate in which the trust has
an interest other than a purchased interest, and shall allocate to
principal an amount received as a distribution of principal from such a
trust or estate. 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, 11-A-4.1 or 11-A-4.15 applies to a receipt
from the trust.

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