Idaho State Statutes - Idaho Attorney Directory

(a) An amount received as interest,
whether determined at a fixed, variable or floating rate, on an obligation to
pay money to the trustee, including an amount received as consideration for
prepaying principal, must be allocated to income without any provision for
amortization of premium.
(b) A trustee shall allocate to principal an amount received from the
sale, redemption, or other disposition of an obligation to pay money to the
trustee more than one (1) year after it is purchased or acquired by the
trustee, including an obligation whose purchase price or value when it is
acquired is less than its value at maturity. If the obligation matures within
one (1) year after it is purchased or acquired by the trustee, an amount
received in excess of its purchase price or its value when acquired by the
trust must be allocated to income.
(c) This section does not apply to an obligation to which section
68-10-409, 68-10-410, 68-10-411, 68-10-412, 68-10-414 or 68-10-415, Idaho
Code, applies.

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