N.Y. EPT Law § 11-A-4.4

§ 11-A-4.4 Principal receipts\n A trustee shall allocate to principal:\n (1) to the extent not allocated to income under this article, assets\nreceived from a transferor during the transferor's lifetime, a\ndecedent's estate, a trust with a terminating income interest, or a\npayer under a contract naming the trust or its trustee as beneficiary;\n (2) money or other property received from the sale, exchange,\nliquidation, or change in form of a principal asset, including realized\nprofit, subject to this part;\n (3) amounts recovered from third parties to reimburse the trust\nbecause of disbursements described in subparagraph 11-A-5.2 (a)(7) or\nfor other reasons to the extent not based on the loss of income;\n (4) proceeds of property taken by eminent domain, but a separate award\nmade for the loss of income with respect to an accounting period during\nwhich a current income beneficiary had a mandatory income interest is\nincome;\n (5) net income received in an accounting period during which there is\nno beneficiary to whom a trustee may or must distribute income; and\n (6) other receipts as provided in subpart 3.\n