Fla. Stat. § 738.310: 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.

History.—s. 19, ch. 2024-216.