Cindy McCain releases 2007 tax return

WASHINGTON (Reuters) - Republican presidential nominee John McCain’s wife, Cindy, released her 2007 tax return on Friday, showing she paid $1.1 million in taxes on nearly $4.2 million in adjusted gross income.

Cindy McCain, wife of Republican presidential nominee Sen. John McCain (R-AZ), passes candy to the crew during a campaign flight from New York to Miami October 17, 2008. REUTERS/Carlos Barria

Cindy McCain, the heiress to a large Arizona beer distributorship, had received an extension on the deadline last April to file her 2007 tax returns.

The McCain campaign said the extension was requested because she had not received all the information needed to complete the returns.

The campaign released two pages summarizing Cindy McCain’s 2007 tax return.

Her 2007 statement said she had an adjusted gross income of $4,197,028 and paid $1,103,989 in federal income taxes for a tax rate of 26.3 percent.

She listed itemized deductions of $527,666, with about $2.8 million in income from partnerships, trusts and rental real estate, and $746,395 in income from capital gains.

Cindy McCain and her husband of 28 years have maintained personal finances separately throughout their marriage.

Arizona Sen. McCain had already released his 2006 and 2007 tax information. They showed he had taxable income of $474,104 in those two years combined with his Senate salary, book royalties, a Navy pension and Social Security income.

Cindy McCain released her 2006 tax return last May, following criticism from some Democrats and newspaper editorial boards who contended her refusal to put out the information was at odds with her husband’s reputation for advocating open government.

“John McCain is committed to the highest level of transparency which is why for the last 28 years, since Senator McCain first ran for office, all of the sources of his and Mrs. McCain’s income, and all of their assets, have been fully disclosed,” said a McCain spokeswoman, Maria Comella.

The McCain campaign said that with the release of the 2007 records, Cindy McCain had now more than met a standard established in the 2004 campaign when Theresa Heinz-Kerry, the wealthy wife of Democratic nominee John Kerry, released summary pages of her tax return.