Fla. Stat. § 738.310

Current through Chapter 226 of the 2024 Legislative Session

Section 738.310 - [Effective 1/1/2025] Other rules

Following the conversion of an income trust to a unitrust, the trustee shall consider the unitrust amount as paid from the following sources, which are listed in order of priority:

(1) Net accounting income determined under this chapter as if the trust were not a unitrust;

(2) Ordinary income not allocable to net accounting income;

(3) Net realized short-term capital gains;

(4) Net realized long-term capital gains; and

(5) The principal of the trust.

Fla. Stat. § 738.310

Added by 2024 Fla. Laws, ch. 216,s 19, eff. 1/1/2025.