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Georgia Candidate for Governor Admits He Claimed Depreciation Deductions on Home He Gave to His Daughter

Barnes Following up on my prior post, Georgia Governor’s Race: How Did Candidate Pay 2% Tax on $400k Income? (Oct. 11, 2010):  Augusta Chronicle, Tax Errors Mean Barnes Owes $7,500:

Roy Barnes claimed federal and state income tax breaks in 2008 and 2009 for depreciation on a house he doesn’t own, his campaign acknowledged Thursday.

Cobb County property records show Barnes’ daughter and son-in-law have owned the house in Marietta since 2007 when Barnes gave it to them. Barnes, the Democratic nominee for governor, owns several properties on the road.

Barnes campaign spokesman Emil Runge called it an accounting error and said, as a result, the former governor had underpaid about $7,500 in taxes for the two years. His accountant is amending the returns to remove the tax break. …

Barnes has attacked his Republican opponent Nathan Deal for not paying enough in taxes. … Deal spokesman Brian Robinson said Barnes “has spent the entire campaign throwing rocks from his glass house.”  “We forgive Roy for his ‘accounting’ error,” Robinson said, adding Barnes’ legal work has raked in hundreds of millions of dollars in verdicts, “which makes it difficult to keep track of your kingdom and how many houses you own.”


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