Braun releases longer version of recent tax returns
By Chris Fusco and Abdon M. Pallasch Staff Reporters January 6, 2011 1:28AM
Updated: May 17, 2011 2:55PM
Carol Moseley Braun on Wednesday released longer versions of her 2008 and 2009 tax returns, expanding on the two-page summaries she put online the day before.
Her disclosure brought her closer to matching two of her mayoral challengers: Rahm Emanuel and Gery Chico, each of whom has released five years’ worth of tax returns. Braun’s campaign indicated she plans to make her 2005, 2006 and 2007 returns available as soon as today.
The latest documents reveal more about Braun’s financial pains, but they do not explain a $203,702 “net operating loss” Braun listed on her 2008 return. They also don’t identify who paid her a $55,000 salary in 2008 or make any mention of her organic-food company, which she’s admitted has struggled.
The returns do show a decline in speaking fees to the former U.S. senator and ambassador: from $32,446 in 2008 to $10,556 in 2009.
They also show Braun deducted $53,066 in mortgage interest in 2008 and $43,202 in 2009. She has four mortgages on her home, which is for sale for $1.9 million.
Overall, Braun paid $785 in federal self-employment tax on $15,561 in income in 2009. For 2008, she paid $2,509 in self-employment tax.