[NonValueAdded]

So where are the forms? I came in through another post, since locked, that pointed us to US Newswire Newsphotos and could only find page 1. That in itself had a few surprises. First, she filed as Teresa Heinz - NO HYPHEN, NO KERRY. She did give $3 to the presidential election fund - how sweet. She did pay $626 of self employment tax but claimed no line 7 wages, salary, or tips. Mildly interesting. With such an uncomplicated page 1, why on earth wouldn't she file a joint return with John? Why pay Married Filing Separately rates? Is it for the privacy - kinda moot since the return is released - or is it to avoid liability for anything John might claim? Hmmm? Her net capital gains is a measly $14K but that is a net figure. Schedule D would tell us whether or not she traded any timber, oil futures, etc., but we won;t see that. Besides, all the big money is locked up in the trusts and that is where the serious ownership stakes are held. Where is page 2?

[NonValueAdded]

Oh, maybe the MFS is because she's claiming a different residence state than the hubby. Alas, the address was redacted. That should be challenged. Is it a tax dodge? If she claims PA residency for tax purposes, what does that say about her voter registration? We don't need the street address, maybe not even the city unless there is a city tax involved, but the state is important information.

[The Great Yazoo]

The unrealized capital gains is probably where the real dough is.

[conservative in nyc]

Page 1 of her 2003 tax return is here.

Page 2 of her 2003 tax return is here.

Because she earned a little over $2.2 million in qualified dividend income, Ms. Kerry benefited significantly from the reduction on the tax rate on dividends to 15%. Thus, she only paid $300,699 in regular income taxes in 2003. However, she also owed $326,451 in alternative minimum taxes and $1,251 in self-employment tax in 2003, bringing her total federal tax bill to $628,401.

It's a bit strange that she's paying more in AMT than in regular income taxes. The Bushes, Cheneys and Edwards and her husband didn't. My guess is this reflects taxes owed on her oil and gas and timber interests. I doubt it's from her simple dividend income (which is the bulk of her taxable income).

The other strange thing is that she didn't claim a single tax credit, including foreign tax credits.