Mitt Romney Discloses Tax Returns

Republican presidential candidate releases 2011 tax returns.
3:00 | 09/21/12

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Transcript for Mitt Romney Discloses Tax Returns
as you know, jim, another major development on the campaign trail today. Mitt romney releasing another year of his tax returns. He promised to release a second year and today, he did. And now, tonight,uestions about why experts say romney appears to have paid more taxes than he needed to. Was there a political strategy behind it? Abc's senior political correspondent jon karl diving into the numbers for us. Jon? Reporter: Good evening, david. Yes, the most interesting thing about these tax returns are that even though mitt romney paid a low tax rate, he actually voluntarily paid more in taxes than he had to. The bottom line on mitt romney's taxes? He made $13.7 million last year, and paid nearly $2 million in taxes. His effective tax rate -- 14.1%. That's a lower rate than an you a though mechanic who made $75,000 would pay. Although he made almost $14 million, not one penny came from wages or salary. Instead, his money came largely from investments, which are taxed at the much lower capital gapes tax rate. In an interview with david muir in july, romney made no apologies for keeping his tax rate low. I don't pay more than are legally due, and frankly, if i had paid more than are legally due, I don't think I'd be qualified to become president. Reporter: But this year it turns out romney did pay more than he was legally due. A lot more. You see, romney gave $4 million to charity, but he didn't claim it all as a deduction. If he had, he would have paid about $500,000 less in taxes. Why did romney pay a half a million dollars more than he had to? Today, his money manager said he paid the extra taxes just to comply with romney's statement earlier this year that his tax rate was at least 13%. If he had taken all his deductions, romney's tax rate would have actually been just over 10%. This year, he did just that. Tax return release comes at the end of a bad week for romney, that continued today, when paul ryan spoke to the aarp. He was repeatedly booed by the crowd of seniors. The first step to a stronger medicare is to repeal obamacare, because it represents the worst of both words. Reporter: With the tax return finally released, romney hopes to get beyond all of the relativead news he's faced over the last couple of weeks and start with a fresh campaign approach monday in ohio. David? Looking to put this week behind him, jon. Not just the taxes revealed. Today, his health reveals, as well. Reporter: That's right. Here, you had good news. These were his health records, his doctor said he is a vigorous man who, quote,en looks years younger than he actually is. So, he also, of course, shows that romney does not drink or smoke at all and is somebody who is simply in top physical health. Yes, the word vigorous is always something we welcome from the doctor. Jon karl on the campaign trail tonight. Jon, thank you.

This transcript has been automatically generated and may not be 100% accurate.

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