Clintons' investment income nearly triples since 1997

WASHINGTON (AP) -- Investment income earned by President Clinton and first lady Hillary Rodham Clinton has nearly tripled since<br>1997, but their overall income is down largely due to a drop in royalties

Friday, April 14th 2000, 12:00 am

By: News On 6

WASHINGTON (AP) -- Investment income earned by President Clinton and first lady Hillary Rodham Clinton has nearly tripled since
1997, but their overall income is down largely due to a drop in royalties from Mrs. Clinton's book, according to tax returns released Friday.

The Clintons reported adjusted gross income of $416,039 for 1999, down about $88,000 from the year before. That still placed them in the top 2 percent income bracket, a group that pays 40 percent of all U.S. income taxes.

The first couple paid $92,104 in income taxes and could have claimed a refund of $2,278, but they decided instead to apply that to next year's tax bill. The average taxes paid by all taxpayers in their income group was just over $71,000 in 1997, the most recent year complete IRS statistics are available.

Their earnings included Clinton's salary as president of $200,000, which is set by law, and $185,857 in capital gains, dividend and interest income mainly from their blind trust managed
by Pell Rudman Trust Co.

The capital gains income of $179,849 last year compares with $65,028 in 1997, mirroring the gains earned by millions of other investors during the stock market's boom.

Royalties from Mrs. Clinton's 1996 book, "It Takes A Village," amounted to $20,214 last year, down from almost $282,000 in 1997. A
White House statement said the book's earnings were donated to "charities across the country that support children and their
families."

Also given to charity was $12,000 from the Henry G. Freeman Jr. Pin Money Fund, established in Freeman's 1912 will as income for whoever is the spouse of the president. All told, the Clintons made $39,200 in charitable contributions.

Like about a third of all Americans, the Clintons claimed itemized deductions, a total of $81,358.

As new owners of a home in Chappaqua, N.Y. -- Mrs. Clinton's base for her New York run for the Senate -- the Clintons claimed $31,931
in deductions for state and local income taxes and for real estate taxes. They also claimed a home mortgage deduction of $10,714.

Like about half of all taxpayers, the Clintons used a professional preparer to do their taxes, a certified public accountant in Rockville, Md., who charged them $5,625 in 1998 for the service.