Democratic presidential candidate John Kerry has filed an amended 2003 federal income tax return to reflect that he had to pay $11,577 more in taxes. His campaign said Friday that the initial underpayment was due to an accounting error.
Details here.
The amended form, filed Thursday, said the tax on the sale of Kerry’s one-half interest in a painting by Dutch artist Adam Willaerts was inadvertently calculated at the 20 percent rate rather than the 28 percent rate.
I do that all the time with the sale of all my paintings...
Kerry’s original tax forms showed he paid $90,575 in taxes on adjusted gross income of $395,338. The amended return showed a total payment of $102,152, or nearly 26 percent of his adjusted gross income. Kerry files his returns separately from wife Teresa Heinz Kerry.
And for good reason... |