Wind Corporation is a personal holding company. Its taxable income for this year is $100,000. The corporation's charitable contributions are $5,000 greater than its income tax charitable contribution deduction limitation. Wind's UPHCI is $95,000, assuming no other adjustments must be made.

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The UPHCI (Undistributed Personal Holding Company Income) is calculated by reducing the taxable income by the excess charitable contributions over the deduction limit, which in this case is $5,000. Therefore, $100,000 - $5,000 = $95,000.

Wind Corporation Is a Personal Holding Company