Alabama Governor Pays Taxes on IRA Withdrawals Used to Fund Campaign

Associated Press, Alabama Governor Pays Extra Tax for IRA Use:

Gov. Robert Bentley paid almost $200,000 in taxes for financing his successful gubernatorial campaign out of retirement savings. ... Bentley's tax returns show he had $760,740 in income for 2010, but $650,000 of that was withdrawn from his IRA to lend to his campaign for governor. Bentley had to pay $198,012 in federal income taxes because of the IRA withdrawals. He had enough deductions to offset his other income.

Bentley said his campaign has reimbursed him for the retirement money, but it can't repay him for the taxes because he would have had to pay taxes on the IRS withdrawals no matter when he took them.