§ 18. City taxable income of a resident estate or trust.--The city
taxable income of a resident estate or trust means its federal taxable
income as defined in the laws of the United States for the taxable year,
with the following modifications:

(a) There shall be subtracted six hundred dollars as the city
exemption of the estate or trust, and there shall be added the amount of
its federal deduction for a personal exemption.

(b) There shall be subtracted the modification described in paragraph
nine of subsection (c) of section twelve with respect to gains from the
sale or other disposition of property, to the extent such gains are
excluded from federal distributable net income of the estate or trust.

(c) There shall be added or subtracted (as the case may be) the share
of the estate or trust in the city fiduciary adjustment determined under
section nineteen.

(d) There shall be added or subtracted (as the case may be) the
modifications described in paragraph six of subsection (b) and in
paragraph eight of subsection (c) of section twelve.