Tex. Prop. Code Section 116.152
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, Section 116.151 (Character of Receipts) or 116.178 (Asset-backed Securities) applies to a receipt from the trust.
Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.

Source: Section 116.152 — Distribution from Trust or Estate, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­116.­htm#116.­152 (accessed Apr. 20, 2024).

Accessed:
Apr. 20, 2024

§ 116.152’s source at texas​.gov