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.]
Structure Idaho Code
Title 68 - TRUSTS AND FIDUCIARIES
Chapter 10 - UNIFORM PRINCIPAL AND INCOME ACT
Part 4 - ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST
Section 68-10-401 - CHARACTER OF RECEIPTS.
Section 68-10-402 - DISTRIBUTION FROM TRUST OR ESTATE.
Section 68-10-403 - BUSINESS AND OTHER ACTIVITIES CONDUCTED BY TRUSTEE.
Section 68-10-404 - PRINCIPAL RECEIPTS.
Section 68-10-405 - RENTAL PROPERTY.
Section 68-10-406 - OBLIGATION TO PAY MONEY.
Section 68-10-407 - INSURANCE POLICIES AND SIMILAR CONTRACTS.
Section 68-10-408 - INSUBSTANTIAL ALLOCATIONS NOT REQUIRED.
Section 68-10-409 - DEFERRED COMPENSATION, ANNUITIES, AND SIMILAR PAYMENTS.
Section 68-10-410 - LIQUIDATING ASSET.
Section 68-10-411 - MINERALS, WATER AND OTHER NATURAL RESOURCES.
Section 68-10-413 - PROPERTY NOT PRODUCTIVE OF INCOME.