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2011 Florida Statutes
SECTION 402
Distribution from trust or estate.
Distribution from trust or estate.
738.402 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, s. 738.401 or s. 738.608 applies to a receipt from the trust.
History.—s. 1, ch. 2002-42.