Public Papers - 1991
Statement by Press Secretary Fitzwater on the President's Federal Income Tax Return
The President and Mrs. Bush's 1990 tax return shows that they have paid ,241 in Federal income tax on an adjusted gross income of 2,732, of which 0,000 was the President's salary. The Bushes also reported 5,911 in income, from their blind trust, ,245 in interest income, and ,647 from other sources. The blind trust is managed by Bessemer Trust Co., N.A., New York City.
The President and Mrs. Bush claimed ,118 in itemized deductions, which included ,667 in contributions to 50 charities and 0 to charities through the blind trust. A list of the 50 charities is attached. The net royalties received in 1990 of ,042 from the President's book, ``Looking Forward,'' were given to charitable organizations included in this list.
The President and Mrs. Bush's tax return has been reviewed by the Office of Government Ethics and will be filed in the Philadelphia regional office of the Internal Revenue Service.