facebook
twitter
rss
account
search
search
 

Mayoral candidate had big loss

Jan. 5, 2011 at 7:43 AM   |   Comments

| License Photo
CHICAGO, Jan. 5 (UPI) -- A former U.S. senator running for Chicago mayor reported a negative income of $225,908 the same year she obtained a fourth mortgage on her home, records show.

Carol Moseley Braun provided two-page summary sheets from her filings in 2008 and 2009 after she was criticized for refusing to release any tax records before the Feb. 22 at-large municipal election, the Chicago Sun-Times reported Wednesday.

The documents show Braun paid $2,509 in federal self-employment taxes in 2008 even though she reported a loss of $225,908. In 2009, she paid $785 in federal self-employment tax on $15,561 in income.

Her Hyde Park home has four mortgages, including one for $291,077 obtained in October of 2008.

Attorney Louis Vitullo said Braun's losses stem from her the organic food company she started in 2005.

In a news release, Braun said she was an everyday Chicagoan fighting to keep her business afloat.

Also running for mayor are White House chief of staff Rahm Emanuel and former Chicago School Board President Gery Chico.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
France holds up delivery of warships to Russia France holds up delivery of warships to Russia
2
Police suspect poisoning in death of Utah family Police suspect poisoning in death of Utah family
3
Piece of Amelia Earhart plane identified from Nikumaroro Piece of Amelia Earhart plane identified from Nikumaroro
4
Hawaii lava update: 100 feet from home, National Guard deployed Hawaii lava update: 100 feet from home, National Guard deployed
5
Navy SEAL who claims to be Bin Laden's shooter to reveal identity on Fox News Navy SEAL who claims to be Bin Laden's shooter to reveal identity on Fox News
Trending News
Around the Web
x
Feedback