FRANKFORT — Gov. Steve Beshear and his wife, Jane Beshear, saw a big jump in their income last year.
The couple reported an adjusted gross income of $580,547 on their joint 2014 federal tax return. That's $243,271 more than the Beshears reported for 2013. Most of the rise was due to an increase in capital gains. The Beshears reported capital gains of $108,121 for 2013 and $338,235 in 2014.
Most of the increase in capital gains for 2014 came from the disposition of property held for investment. That included the sale of 5,000 shares of US Bancorp stock for $218,036 and an American Mutual Fund for $68,874. The Beshears reported a loss of $5,300 on the sale of a quarterhorse.
The 2014 returns showed that Beshear made $138,375 in salary as governor. The couple also reported $2,183 in taxable interest, $62,063 in dividends, $39,639 in Social Security benefits and $52 in miscellaneous income from a lawsuit involving burley tobacco growers.
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For 2014, the Beshears claimed federal deductions of $53,318, including $19,673 given to charities. They had to pay the federal government $60,890 in taxes.
Beshear, first elected governor in 2007, has voluntarily released his tax returns every year that he has held office. He will leave office in December at the end of his second four-year term, the maximum allowed under state law.