Tax Guru-Ker$tetter Letter

Saturday, April 05, 2008

Clinton Tax Returns
It looks like the campaign for a third term in the White House is a little more demanding on the need for disclosure than they expected. They have released copies of their 2000 through 2006 1040s, along with a one page summary of their 2007 income.

Several other media outlets have covered summaries of the figures, such as in this article in the Washington Times. From a geeky tax pro perspective, I noted how the tax returns evolved from 10 pages for 2000 to 68 pages for 2006.

You can download each year separately from links on the bottom of this page on their website or from this 16.5 mb zipped file I created that includes all of the 2000-2007 files in one handy download.

This close to April 15, I obviously don't have time to look over every page of these tax returns; but one other interesting schedule from a geeky perspective was this mortgage interest worksheet on page 38 of the 2006 1040. It shows the average personal residence mortgage to be $3,279,728 for the year, which means that only 33.5% of the interest they paid during the year was deductible because of the one million dollar limit on acquisition debt. This resulted in $105,673 of non-deductible interest for 2006.

Labels: Clinton

- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 4/05/2008 10:23:00 AM Send this post: