Teresa Heinz Kerry, the wife of Democratic presidential nominee John F. Kerry, had taxable income of nearly $2.3 million in 2003 and paid a federal and state tax bill of close to $800,000, according to two pages of tax forms released by the Kerry campaign yesterday.
Heinz Kerry, who has an estimated worth of $750 million and indicated her profession as "philanthropist" on her tax return, reported receiving $2.78 million in nontaxable interest income from state, municipal and public-entity bonds. Her taxable income consisted mostly of dividends and interest payments from trusts created by the Heinz family.
Her husband, who filed a separate tax return, earlier reported a taxable 2003 income of $346,664.
Heinz, who is tied for the last spot on Forbes magazine's list of the 400 richest Americans, will receive a refund of just under $248,000 for overpaying her federal taxes when she applied for an extension earlier this year and will apply that to her 2004 filing, the Kerry campaign said. In all, she paid $628,401 in federal taxes in 2003 and $171,670 in state taxes on a total federal adjusted gross income of $2,291,137.
Heinz Kerry released a far less complete accounting of her income than her husband did. In a statement released by the campaign, she said it "goes beyond any legal requirement" while striking a balance "between my family's privacy and the media's requests for additional information."
The campaign said Heinz Kerry made more than $4.6 million in charitable donations, distributed mainly by the Heinz Family Foundation -- which she created with her first husband, the late Sen. John Heinz (R-Pa.), heir to the Heinz food fortune. He died in a plane crash in 1991.