TITLE 68

TRUSTS AND FIDUCIARIES

CHAPTER 10

UNIFORM PRINCIPAL AND INCOME ACT

PART 4.

ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST

68-10-402.  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 68-10-401 or 68-10-415, Idaho Code, applies to a receipt from the trust.

History:

[68-10-402, added 2001, ch. 261, sec. 2, p. 953.]