Kerry Files Amended Tax Return, Pays More
Democratic presidential candidate John Kerry (news - web sites) 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.The 28 percent rate is the capital gains rate for collectibles. You'd think a big art investor like Lurch would have his accountants well trained in all the nuances.
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.
