IE 11 is not supported. For an optimal experience visit our site on another browser.

Kerry's wife made $5 million in 2003

Teresa Heinz Kerry, the wife of Democratic presidential candidate John Kerry, earned more than $5 million last year and paid about $750,000 toward income taxes, Kerry’s campaign said Tuesday.
/ Source: The Associated Press

Teresa Heinz Kerry, the wife of Democratic presidential candidate John Kerry, earned more than $5 million last year and paid about $750,000 toward income taxes, Kerry’s campaign said Tuesday.

Heinz Kerry had resisted calls that she disclose information on her finances, citing concerns about her children’s privacy. Her husband, who files separately, released his tax returns earlier this year.

The campaign reported that Heinz Kerry had an estimated gross taxable income in 2003 of approximately $2,338,000, along with tax exempt interest income of $2,777,000, largely from state, municipal and other public bonds.

Campaign officials said Heinz Kerry has requested an extension on filing her 2003 income tax returns.

She paid $587,000 in estimated federal income taxes for 2003 and $162,777 in estimated state and local income taxes. In April she paid another $280,000 toward expected additional 2003 and 2004 liability, the campaign said.

The statement said Heinz Kerry will file her returns in October, and campaign officials said they will make the first two pages of those returns public at that time.

Heinz Kerry, an heir to the Heinz prepared foods fortune, is worth an estimated $500 million.

“While I am not a candidate for any public office, a great deal of my financial information has been disclosed for many years on my husband’s Senate ethics disclosures and now that he is a presidential candidate, with the office of government ethics,” she said in the statement.

“Today I am making additional public disclosures by releasing my personal tax information,” she said. “I will make public my 1040 form when my personal tax returns are completed later this year. John and I believe this strikes a balance between my family’s privacy and the media’s requests for more financial information.”