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Stefanik releases her tax return

U.S. Rep. Elise Stefanik, R-Willsboro, earned $149,736 in 2015, according to her 2015 income tax return.

Stefanik posted the form Tuesday on her congressional office website as part of her commitment to transparency, her campaign said.

The annual salary of a House member is $174,000. Stefanik did not receive a full year’s salary in 2015 because she did not take office until Jan. 5.

Stefanik claimed itemized deductions of $11,946, including $2,220 in real estate taxes and $1,381 in investment expenses for mortgage interest on rental property she owns through EMS DC Properties in Washington, D.C.

She carried over $20,654 in disallowed investment expense toward her 2016 income. Mortgage interest above rental income in a given year cannot be deducted that year but can be carried over to future years.

Stefanik did not receive any taxable interest or dividends in 2015, or have any business income or capital gains.

Stefanik’s total income tax in 2015 was $30,532. Her marginal tax rate was 28 percent, and her effective tax rate was 23 percent.

She listed Willsboro as her home address.

Candidates for elected office are not required to release tax returns. Candidates for president and statewide office, and some congressional candidates, have typically released returns voluntarily. The topic has been widely debated this year because Republican presidential candidate Donald Trump has refused to release his tax returns.

Stefanik said Monday in a 21st Congressional District debate televised on Time Warner Cable Network that Trump should release his returns.

Stefanik is running for re-election against Democrat Mike Derrick, a retired Army colonel from Peru, and Green Party candidate Matt Funiciello, a bread company owner and political activist from Hudson Falls.

Funiciello said he had requested an extension of the April 15 deadline to file his 2015 tax return, which his accountant is still preparing.

He said he expects it will be ready to file before the Nov. 8 election, and he will release it as soon as it is filed.

“I think we are very close to filing,” he said.

Drew Prestridge, campaign manager for Derrick, said the campaign has not yet decided whether Derrick will release his tax return.

“The campaign has not even had a chance to review Mike’s (return),” Prestridge said. “We are not opposed to it. It is something we will definitely consider. We will have our team review them.”

(Editor’s note: Four daily newspapers in the North Country – the Enterprise, Post-Star of Glens Falls, Watertown Daily Times and Press-Republican of Plattsburgh – are sharing content to better cover New York’s 21st Congressional District.)

Stefanik releases her tax return

U.S. Rep. Elise Stefanik, R-Willsboro, earned $149,736 in 2015, according to her 2015 income tax return.

Stefanik posted the form Tuesday on her congressional office website as part of her commitment to transparency, her campaign said.

The annual salary of a House member is $174,000. Stefanik did not receive a full year’s salary in 2015 because she did not take office until Jan. 5.

Stefanik claimed itemized deductions of $11,946, including $2,220 in real estate taxes and $1,381 in investment expenses for mortgage interest on rental property she owns through EMS DC Properties in Washington, D.C.

She carried over $20,654 in disallowed investment expense toward her 2016 income. Mortgage interest above rental income in a given year cannot be deducted that year but can be carried over to future years.

Stefanik did not receive any taxable interest or dividends in 2015, or have any business income or capital gains.

Stefanik’s total income tax in 2015 was $30,532. Her marginal tax rate was 28 percent, and her effective tax rate was 23 percent.

She listed Willsboro as her home address.

Candidates for elected office are not required to release tax returns. Candidates for president and statewide office, and some congressional candidates, have typically released returns voluntarily. The topic has been widely debated this year because Republican presidential candidate Donald Trump has refused to release his tax returns.

Stefanik said Monday in a 21st Congressional District debate televised on Time Warner Cable Network that Trump should release his returns.

Stefanik is running for re-election against Democrat Mike Derrick, a retired Army colonel from Peru, and Green Party candidate Matt Funiciello, a bread company owner and political activist from Hudson Falls.

Funiciello said he had requested an extension of the April 15 deadline to file his 2015 tax return, which his accountant is still preparing.

He said he expects it will be ready to file before the Nov. 8 election, and he will release it as soon as it is filed.

“I think we are very close to filing,” he said.

Drew Prestridge, campaign manager for Derrick, said the campaign has not yet decided whether Derrick will release his tax return.

“The campaign has not even had a chance to review Mike’s (return),” Prestridge said. “We are not opposed to it. It is something we will definitely consider. We will have our team review them.”

(Editor’s note: Four daily newspapers in the North Country – the Enterprise, Post-Star of Glens Falls, Watertown Daily Times and Press-Republican of Plattsburgh – are sharing content to better cover New York’s 21st Congressional District.)

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