TRUSTS AND FIDUCIARIES
UNIFORM PRINCIPAL AND INCOME ACT
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.
[68-10-402, added 2001, ch. 261, sec. 2, p. 953.]