THE WHITE HOUSE
Office of the Press Secretary
Statement by White House Press Secretary on President and Mrs. Clinton's Federal Tax Return
The President and Mrs. Clinton's 1994 federal income tax return shows that they have $55,313 in Federal Income Tax on an Adjusted Gross Income of $263,900, of which $200,000 was the President's salary. The return shows that the Clintons made an overpayment on their taxes during 1994 of $14,418. The Clintons have elected to apply $7,500 of this overpayment to their 1995 income taxes, and to accept a refund of $6,918.
In addition to the President's salary, the Clinton's income included interest and dividend income and capital gains reported by Boston Harbor Trust Co., the trustee of the Clinton's blind trust; other interest and dividend income; a refund of 1993 taxes paid by the Clintons to the state of Arkansas; and residual payments and royalty income.
The return also reports dividend and interest income of $12,000 from a "Henry G. Freeman Jr. Pin Money Fund," established under a 1912 will for whoever is, at a given time, the spouse of the President of the United States. Mrs. Clinton intends to contribute this income to charitable entities.
The President today also filed a federal income tax return on behalf of his daughter, Chelsea, which shows $911 in tax on income of $6,678.