Clintons, Gores file income tax returns

By Major Garrett/CNN

April 14, 2000
Web posted at: 1:49 p.m. EDT (1749 GMT)

WASHINGTON (CNN) -- President Bill Clinton and first lady Hillary Rodham Clinton paid $92,104 in federal income taxes in the 1999 tax year on income of $416,039, according to tax returns released Friday by the White House.

The Clintons contributed $39,200 to charity. Mrs. Clinton donated to charity $20,000 in royalty income from her book, "It Takes A Village."

The Clintons overpaid by $2,278 in 1999 taxes and applied that overpayment to their 2000 tax return.

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The Clintons' reported income includes the following: the president's salary of $200,000; taxable interest of $6,008; $11,396 in ordinary dividends; $20,214 in business income; and $179,849 in capital gains.

The capital gains earnings were derived from the Clintons' blind trust, called the Pell Rudman Trust, and included $57,755 in short-term capital gains and $122,094 in long-term capital gains. Short-term capital gains are derived from assets held less than one year. Long-term gains are derived from assets held more than one year.

The Clintons also earned $12,000 in income from the Henry G. Freeman Jr. Pin Money Fund, established in 1912 for whoever is president and first lady. This income also was donated to charity.

Vice President Al Gore and Tipper Gore earned $240,930 in 1999 and paid $59,178 in federal income taxes. The Gores donated $15,000 to charity in 1999.

The Gores reported income as follows: the vice president's salary of $175,400; $1,267 in tax-exempt interest; $643 in taxable refunds; $13,989 in business income; $29,260 in capital gains; and $20,371 in rental real estate royalties.