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2023 Florida Statutes (Including 2023C)
SECTION 402
Distribution from trust or estate.
Distribution from trust or estate.
738.402 Distribution from trust or estate.—A fiduciary 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 allocate to principal an amount received as a distribution of principal from such a trust or estate. If a fiduciary 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 fiduciary, s. 738.401 or s. 738.608 applies to a receipt from the trust.
History.—s. 1, ch. 2002-42; s. 13, ch. 2012-49.