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GOP Senate candidate Mitt Romney made $83.8 million in the past three years, tax returns show

SHARE GOP Senate candidate Mitt Romney made $83.8 million in the past three years, tax returns show
FILE--In this Oct. 9, 2018, file photo, Republican U.S. Senate candidate Mitt Romney is seen during the debate with U.S. Democratic Senate candidate Jenny Wilson in Cedar City, Utah.

FILE--In this Oct. 9, 2018, file photo, Republican U.S. Senate candidate Mitt Romney is seen during the debate with U.S. Democratic Senate candidate Jenny Wilson in Cedar City, Utah.

James M. Dobson, The Spectrum

SALT LAKE CITY — Republican U.S. Senate candidate Mitt Romney reported income totaling $83.8 million on his federal tax returns for the past three years, according to documents his campaign released Thursday.

In making public his 2015, 2016 and 2017 personal tax filings, Romney said he was keeping a promise he made in March when he released his federal financial disclosure information.

Romney and his wife, Ann, filed joint tax returns.

The returns show Romney's gross income was $41.5 million in 2015, $20 million in 2016 and $22.3 million last year. Combined taxes and charitable contributions reported over the three years totaled 42.9 percent of his income.

Federal taxes reported on his forms came to $18.1 million, while state income tax and real estate taxes totaled $6.7 million. Charitable donations totaled $11.1 million.

Romney's personal tax filings include income from his family trusts because they were originally established as "grantor trusts," meaning the law requires him to include the income in his individual tax filings, and he must also personally pay taxes due from the trusts, according to his campaign.

Of the $11.1 million of charitable contributions, $9.4 million was made directly by Romney and was reported on his personal income tax filings, according to his campaign. Another $1.7 million was made by his charitable foundation and was reported on the foundation's tax returns.

Romney faced criticism during the 2012 presidential race for his reluctance to release some of his tax records.

In March, Romney filed federal financial disclosure forms as part of his Senate campaign showing he has a net worth of up to $270 million, mostly investments. That also included co-ownership of apartment buildings in Silver Spring, Maryland, and Wichita, Kansas, with his combined stake worth up to $6 million. He also reported owning up to $500,000 in gold.

The former Massachusetts governor grew his fortune running Bain Capital in Boston.

Romney faces Democratic Salt Lake County Councilwoman Jenny Wilson in the race to replace retiring GOP Sen. Orrin Hatch. Wilson has reported about $73,000 in income, primarily from her council job, and assets worth up to $2 million.