Hillary Clinton
Related: About this forumMore about Sandres' tax return
It is hard to believe that the IRS accepted only one page from him.
Thus, it makes sense that there were several more pages, including Schedule A, C and SE.
So what's the big deal to take this return to the office and get someone to scan and post it? With all the money that they raised they should be able to pay someone to do this. They don't need "when his wife get around to it" (or something like that).
LexVegas
(6,066 posts)livetohike
(22,144 posts)that he just looks lazy right now. Too busy is not a good excuse.
Her Sister
(6,444 posts)and not transparent! Which puts purity into question.
BlueMTexpat
(15,369 posts)what the IRS would have accepted. They should release the full return.
And it's all Jane's fault, of course. Bernie is always the victim.
pwatson6953
(6 posts)What would his own supporters say if Hillary had not provided her tax returns. I love the backflips they do on every issue related to Bernie. If he can't answer questions in an interview they have an excuse. If he can't provide his returns they have an excuse. If his numbers don't add up they have an excuse. I can already see the first advertisement from the Republican side in a general election. It will be him stating as he has at campaign rallies saying that he will need to raise taxes followed by an immediate cut to the tax policy foundation showing that on average a family would see an 18% increase in their annual taxes. If you don't think that will scare off middle America I am not sure what rock you have been living under.
question everything
(47,479 posts)Except this is not the issue. Just a diversion. Clinton has been vetted for 18 years now.
The least he can do is take the thing to his office and get it scanned. After all, the first page of the Federal and the Vermont return were.
CalvinballPro
(1,019 posts)And without the Schedule A being published to show the details of his itemized deductions, the public is being kept in the dark by a candidate who claims with a straight face to be the most transparent.
LisaM
(27,812 posts)Aren't higher taxes part of his plan?
CalvinballPro
(1,019 posts)SunSeeker
(51,559 posts)LAS14
(13,783 posts)Historic NY
(37,449 posts)of taxes.
So show us the last 5 years, Jane should have finished them by now.
LisaM
(27,812 posts)That's very strange in my opinion. Why doesn't he just hire someone?
ContinentalOp
(5,356 posts)He knows his campaign will be over soon and he can weasel out of anyone seeing whatever he's hiding. He might as well keep kicking the can down the road a little longer.
KK9
(81 posts)Not a regular at all, I read now and then, but have never felt inclined to post.
I've created an account just to talk about the Sanders' tax returns. I'm really curious about the Schedule A (itemized deductions).
$56,000?!?! What are the deducting? We're at roughly the same income level and have nowhere near that amount of itemized dedcutions. I did tax returns for a living at one point, and it seems way out of whack.
Here's what goes on Schedule A, and can be itemized:
1) Medical and Dental Expenses. Those not covered or reimbursed by insurance. At their ages, anything over 7.5% of AGI, or more than about $15,000. So, AFTER they spent $15K, after insurance (I hear the Senate plan is decent), they could start deducting other medical expenses, NOT covered by insurance.
2) Taxes. State/city/local income taxes. Real estate taxes. Personal property taxes (taxes on business assets). Miscellaneous taxes (like vehicle excise tax).
Sanders reports roughly $8,000 in VT income tax. I've no idea what they pay for RE tax, as both VT and DC don't have that readily available online, like my Mass town does. But, it can't be THAT much, unless the properties they own are worth a fortune.
3). Interest. Either mortgage interest or interest on investments. For most of us regular folks, it's mortgage interest. Sander's financial disclosure does not report any mortgages in the liabilities section. http://pfds.opensecrets.org/N00000528_2015_Pres.pdf. So, I guess he has none?
4) Charitable Gifts. Sander's campaign has reported his charitable gifting at $8,350 for 2014. https://www.washingtonpost.com/news/post-politics/wp/2015/06/30/on-tax-returns-sanders-and-wife-report-200000-in-income-mostly-from-his-senate-post/
5) Casualty and theft losses. Not reimbursed by insurance.
6) Job and Certain miscellaneous expenses. Unreimbused employee business expenses. Tax return prep. Safe deposit box, etc... petty stuff. We already know Jane does their taxes, so that isn't a big expense. Maybe $50 for tax software. A few hundred for a big safe deposit box.
7) "Other Miscellaneous Expenses". Which include the following:
Gambling losses (gambling losses include, but aren't limited to, the cost of non-winning bingo, lottery, and raffle tickets), but only to the extent of gambling winnings reported on Form 1040, line 21.
Casualty and theft losses of income-producing property from Form 4684, lines 32 and 38b, or Form 4797, line 18a.
Loss from other activities from Schedule K-1 (Form 1065-B), box 2.
Federal estate tax on income in respect of a decedent.
A deduction for amortizable bond premium (for example, a deduction allowed for a bond premium carryforward or a deduction for amortizable bond premium on bonds acquired before October 23, 1986).
An ordinary loss attributable to a contingent payment debt instrument or an inflation-indexed debt instrument (for example, a Treasury Inflation-Protected Security).
Deduction for repayment of amounts under a claim of right if over $3,000. See Pub. 525 for details.
Certain unrecovered investment in a pension.
Impairment-related work expenses of a disabled person.
Most of us regular folks, even upper middle class, don't go there.
So, to make a long and boring, unless you are a tax geek, story short...where do they come up with $56K? We know the Vt state income tax and charitable numbers. They reported no mortgages on the financial disclosure. I'd REALLY like to know where the other $40K goes. How much, and how valuable, property do they own? If we're talking $40K in property tax, that's a lot of real estate holding for a "poor" guy. I pay about $11K on a house valued at $600,000 in Massachusetts.
On the side, since they've reported rental property in the past (though not on the current federal disclosure form), why is there no Schedule E? If they sold it all, where is the Schedule D for the capital gains?
And, I don't like the "wife does our tax returns" excuse. I'm the wife, I do our returns myself. I could produce .pdfs of the last five years in about 10 minutes, even working remotely from home. It might require a trip home to get the returns older than that, which are archived. Did Bernie even read his, wife prepared, tax returns before he signed them? I make darned sure my husband does, and I explain it to him line by line, because, yeah, he's just as responsible for it's accuracy, and the ensuing liability as I am.
question everything
(47,479 posts)These are clear comments that, again, should puzzle us about why the Sanders don't release their return.
Great post. Welcome!
KK9
(81 posts)Compared to, let's just say, the Clinton returns (freely and fully available to peruse!). Which will be the "don't worry your pretty little head about it", Sanders take on tax return questioning. But, accurate reporting is important, no matter what your income level and tax liability. I took my tax returns as seriously when I earned $14K as I do when I earn six figures. It's nothing to mess around with, and, you are either paying your obligation, or getting back what you are legally entitled to, or you aren't. That's black and white to me, whether you are getting a refundable credit, or paying big bucks in April.
DemonGoddess
(4,640 posts)Very well explained.