2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 81 - Principal and Income
8132 - Apportionment of receipts and disbursements when decedent dies or income interest begins.

     § 8132.  Apportionment of receipts and disbursements when
                decedent dies or income interest begins.
        (a)  Allocation to principal.--Unless section 8121(1)
     (relating to determination and distribution of net income)
     applies, a trustee shall allocate an income receipt or
     disbursement to principal if its due date occurs before:
            (1)  a decedent dies in the case of an estate; or
            (2)  an income interest begins in the case of a trust or
        successive income interest.
        (b)  Allocation to income.--A trustee shall allocate an
     income receipt or disbursement to income if its due date occurs
     on or after the date on which a decedent dies or an income
     interest begins and it is a periodic due date. An income receipt
     or disbursement must be treated as accruing from day to day if
     its due date is not periodic or it has no due date. The portion
     of the receipt or disbursement accruing before the date on which
     a decedent dies or an income interest begins must be allocated
     to principal and the balance must be allocated to income.
        (c)  Due dates.--An item of income or an obligation is due on
     the date the payor is required to make a payment. If a payment
     date is not stated, there is no due date for the purposes of
     this chapter. Distributions to shareholders or other owners from
     an entity to which section 8141 (relating to character of
     receipts) applies are deemed to be due on the date fixed by the
     entity for determining who is entitled to receive the
     distribution or, if no date is fixed, on the declaration date
     for the distribution. A due date is periodic for receipts or
     disbursements that must be paid at regular intervals under a
     lease or an obligation to pay interest or if an entity
     customarily makes distributions at regular intervals.