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Distribution from trust or estate.

Iowa Code § 637.402
in effect
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637.402. Distribution from trust or estate. 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. 2. An amount received as a distribution of principal from such a trust or estate shall be allocated to principal. 3. 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. 99 Acts, ch 124, §10
Source: Iowa Legislature (legis.iowa.gov)URL: https://www.legis.iowa.gov/docs/code/2026/637.402.pdfFetched: 10/20/2026

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