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Heinz Kerry Reports Nearly $2.3M Income

Friday, October 15, 2004

WASHINGTON —  Teresa Heinz Kerry (search) made nearly $2.3 million in 2003 and had a federal and state tax bill of close to $800,000, according to tax forms filed Friday.

Heinz Kerry, who has an estimated worth of about $750 million, will receive a refund of just under $248,000 for overpaying her federal taxes and is applying that to her 2004 filing.

Her wealth has been the subject of presidential campaign jokes, including a quip by her husband, Democratic candidate John Kerry, during the debate Wednesday night.

Responding to a questioner who asked about the strong women in his life, Kerry said, "I guess the president and you and I are three examples of lucky people who married up. And some would say maybe me moreso than others. But I can take it."

Heinz Kerry, who is tied for last on Forbes (search) magazine's list of the 400 richest Americans, 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. Most of the income was from investment dividends.

She also reported $2.78 million of tax exempt interest income from state, municipal and public entity bonds.

According to the Kerry campaign, Heinz Kerry was responsible for more than $4.6 million in charitable contributions distributed primarily by the Heinz Family Foundation (search), which she created with her late husband, Sen. John Heinz. He was a Pennsylvania Republican, heir to the Heinz food fortune, and died in a plane crash in 1991.

Heinz Kerry filed Friday after requesting an extension earlier this year. She made a $350,000 tax payment when she requested the extension and had paid more than $500,000 earlier.

She and her husband file separately. Earlier in the year, Kerry released 2003 tax returns showing he had paid federal taxes of $102,152 on adjusted gross income of $395,338.

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