                                 CODE OF VIRGINIA

DISTRIBUTION FROM TRUST OR ESTATE (§ 64.2-1049)

A fiduciary shall allocate to income an amount received as a distribution of
income, including a unitrust distribution under Article 3 (§ 64.2-1039 et
seq.), 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, § 64.2-1048, 64.2-1062, or
64.2-1063 applies to a receipt from the trust.

HISTORY: 2022, c. 354.