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Romney paid 14% effective tax rate in 2011

By Jeanne Sahadi @CNNMoney September 21, 2012: 7:08 PM ET



Brief Summary: Romney took $4.7 million in itemized deductions and $102,790 in foreign tax credits, which likely represents taxes paid on foreign investments to other sovereign governments.

Romney and his wife, Ann, gave just over $4 million to charity, the campaign said. The amount includes more than $1 million in cash to the Church of Jesus Christ of Latter Day Saints and more than $200,000 to the Tyler Foundation, which serves families of children undergoing treatment for epilepsy. They also reported more than $900,000 in noncash contributions.

But the couple chose to deduct only $2.25 million of their charitable contributions. The reason was "to conform" to Romney's that he never paid less than 13% in income taxes over the past 10 years, Brad Malt, a lawyer who presides over the Romneys' blind trust, said in a statement.