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2021 Tennessee Code
Title 35 - Fiduciaries and Trust Estates
Chapter 6 - Uniform Principal and Income Act
Part 4 - Allocation of Receipts During Administration of Trust
§ 35-6-402. Distribution From Trust or Estate
Universal Citation: TN Code § 35-6-402 (2021)
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, § 35-6-401 or § 35-6-415 applies to a receipt from the trust.
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