Section 68-10-501 – DISBURSEMENTS FROM INCOME.
68-10-501. DISBURSEMENTS FROM INCOME. A trustee shall make the following disbursements from income to the extent that they are not disbursements to which section 68-10-201(2)(B) or (2)(C), Idaho Code, applies: (1) One-half (1/2) of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee; (2) One-half […]
Section 68-10-502 – DISBURSEMENTS FROM PRINCIPAL.
68-10-502. DISBURSEMENTS FROM PRINCIPAL. (a) A trustee shall make the following disbursements from principal: (1) The remaining one-half (1/2) of the disbursements described in section 68-10-501(1) and (2), Idaho Code; (2) All of the trustee’s compensation calculated on principal as a fee for acceptance, distribution or termination, and disbursements made to prepare property for sale; […]
Section 68-10-503 – TRANSFERS FROM INCOME TO PRINCIPAL FOR DEPRECIATION.
68-10-503. TRANSFERS FROM INCOME TO PRINCIPAL FOR DEPRECIATION. (a) In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion or gradual obsolescence of a fixed asset having a useful life of more than one (1) year. (b) A trustee may transfer to principal a reasonable amount of the net cash […]
Section 68-10-504 – TRANSFERS FROM INCOME TO REIMBURSE PRINCIPAL.
68-10-504. TRANSFERS FROM INCOME TO REIMBURSE PRINCIPAL. (a) If a trustee makes or expects to make a principal disbursement described in this section, the trustee may transfer an appropriate amount from income to principal in one (1) or more accounting periods to reimburse principal or to provide a reserve for future principal disbursements. (b) Principal […]
Section 68-10-505 – INCOME TAXES.
68-10-505. INCOME TAXES. (a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income. (b) A tax required to be paid by a trustee based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax by […]
Section 68-10-506 – ADJUSTMENTS BETWEEN PRINCIPAL AND INCOME BECAUSE OF TAXES.
68-10-506. ADJUSTMENTS BETWEEN PRINCIPAL AND INCOME BECAUSE OF TAXES. (a) A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from: (1) Elections and decisions, other than those described in subsection (b) of this section, that the fiduciary […]