Code of Virginia § 64.2-1049. Distribution from trust or estate.
107 words·~1 min read·
/va/title-64-2/chapter-10-1/64-2-1049·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.
2022, c. 354 .