N.Y. Estates, Powers & Trusts Law § 11-a-4.2: Distribution from trust or estate

§ 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.