Which of the following would be considered an ordinary receipt under the Uniform Principal and Income Act (UPIA)?

Question

Quizplus · Accepted Answer

Rent payments received are considered an ordinary receipt under the Uniform Principal and Income Act (UPIA). Stock dividends and revenue from sale of trust assets are both categorized as principal, while proceeds from insurance on assets are typically considered principal, but may be categorized as income under certain circumstances. All income accrued at the testator's death is considered income, but is not necessarily an ordinary receipt.

Which of the Following Would Be Considered an Ordinary Receipt