(a) 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.
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Terms Used In Alaska Statutes 13.38.610

  • Decedent: A deceased person.
  • Donor: The person who makes a gift.
  • Trustee: A person or institution holding and administering property in trust.
(b) A trustee shall allocate to principal an amount received as a distribution of principal from a trust or estate in which the trust has an interest other than a purchased interest.
(c) If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in a trust that is an investment entity to a trustee, Alaska Stat. § 13.38.600 or 13.38.750 applies to a receipt from the trust.
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