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DOSSIER: Beto O 'Rourke, Democratic presidential candidate and former Texas congressman, expressing himself during an election campaign in Sioux City, Iowa.
(Justin Wan / Sioux City Journal via AP)
The Democratic presidential candidate, Beto O'Rourke, and his wife, Amy, appear to have underpaid their 2013 and 2014 taxes of more than $ 4,000 combined due to a mistake in the way they declared their medical expenses, according to the couple's tax returns released Monday night.
They took deductions for these costs without taking into account the limit that allowed only this break for medical and dental expenses exceeding 10% of the income of people of their age. If they had not taken the medical deductions of nearly $ 16,000, their taxable income would have been higher. During those years, he would probably have been subject to the rates that they were paying under the alternative minimum tax.
BETO O 'ROURKE CALLS THE ISRAELI LEADER NETANYAHU HAS A RACIST & # 39;
"After reading this error, the accounting firm that prepared the filings was immediately informed and will file an amendment, if necessary," said an aide to Mr. O'Rourke.
The 2013 tax year is the first to provide for different income limits for the deduction of medical expenses, depending on the age of the taxpayer. If a tax preparer did not enter the client's age, the tax software used did not allow the full deduction instead of any deduction, said Tony Nitti, CPA of RubinBrown LLP, who said he had made the same mistake in those years. Mr. Nitti reviewed the responses to the Wall Street Journal's request.
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During those years, Mr. O'Rourke was a member of the Texas Congress.
To learn more about The Wall Street Journal, click here.
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