{"data":{"id":"us-ia/iowa-code-637.402","jurisdiction":"us-ia","citation":"Iowa Code § 637.402","heading":"Distribution from trust or estate.","body":"1. Subject to the terms of a recipient trust, 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 shall be allocated to income.\n2. An amount received as a distribution of principal from such a trust or estate shall be allocated to principal.\n3. 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 637.401 applies to a receipt from the trust.","path":["Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES (Ch. 595 - 686D)","Chapter 637 - UNIFORM PRINCIPAL AND INCOME ACT","Subchapter IV - ADMINISTRATION OF TRUST","Part 1 - RECEIPTS FROM ENTITIES"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/637.402.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:16Z","sha256":"b805fbea32982f0c30f649fef4a1fe6f3c9ae2cb2e0071448da1f41dad19d9b4","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-637.401","next":"us-ia/iowa-code-637.403"},"notice":"GroundRules: Original legal text. Not legal advice."}