Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 122

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 122
---
cluding

interest

income

from

payment-in-kind

securities,

if

any)

and

estimated

expenses

are

accrued

daily.

Amortization

of

premium

and

accretion

of

discount

on

debt

securities

are

included

in

interest

income.

Paydown

gains

and

losses

are

recorded

as

an

adjustment

to

interest

income

on

the

Statement

of

Operations.

The

Fund

may

receive

other

income

from

investments

in

senior

secured

corporate

loans

or

unfunded

commitments,

including

amendment

fees,

consent

fees

or

commitment

fees.

These

fees

are

recorded

as

income

when

received

by

the

Fund.

Facility

fees

are

recognized

as

income

over

the

expected

term

of

the

loan. Dividend

income

are

recorded

on

the

ex-dividend

date.

Distributions

to

shareholders

from

net

investment

income,

if

any,

are

recorded

by

the

Fund

on

the

ex-dividend

date.

Distributions

from

capital

gains,

if

any,

are

recorded

on

the

ex-dividend

date

and

paid

at

least

annually.

The

Fund

uses

targeted

distribution

rates,

whose

principal

source

of

the

distribution

is

ordinary

income.

However,

the

balance

of

the

distribution,

if

any,

comes

first

from

capital

gain

and

then

will

constitute

a

return

of

capital.

A

return

of

capital

is

not

taxable;

rather

it

reduces

a

shareholder’s

tax

basis

in

their

shares

of

the

Fund.

The

Fund

may

make

return

of

capital

distributions

to

achieve

the

targeted

distribution

rates.

#### i.

#### Accounting

#### Estimates
The

preparation

of

### financial
statements

in

accordance

with

U.S.

GAAP

requires

### management