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, section four hundred one or four hundred fifteen of this article applies to a receipt from the trust.
Structure West Virginia Code
Chapter 44B. Uniform Principal and Income Act
Article 4. Allocation of Receipts During Administration of Trust
§44B-4-401. Character or Receipts
§44B-4-402. Distribution From Trust or Estate
§44B-4-403. Business and Other Activities Conducted by Trustee
§44B-4-404. Principal Receipts
§44B-4-406. Obligation to Pay Money
§44B-4-407. Insurance Policies and Similar Contracts
§44B-4-408. Insubstantial Allocations Not Required
§44B-4-409. Deferred Compensation, Annuities and Similar Payments
§44B-4-411. Minerals, Water and Other Natural Resources
§44B-4-413. Property Not Productive of Income