How Much did President Obama and the First Lady Pay in Taxes Last Year?
Yes, even presidents have to pay and file tax returns. President Obama and first lady Michelle Obama filed joint 2010 tax returns and reported an adjusted gross income of $1,728,096. Most of the income came from the president's books, with his most recent one being a children's book titled "Of Thee I Sing."
The White House released details of their returns Monday afternoon, which is an adjusted tax day due to a D.C. holiday.
So just how much did they have to pay in federal taxes? The grand total is $453,770. They also paid $51,568 to Illinois in state taxes.
Their refund totaled $12,334.
The first couple gave $245,075 to charity to 36 different charities including $131,075 to the Fisher House Foundation, which created a scholarship fund for kids of fallen and disabled soldiers. Their charitable contributions are about 14 percent of their income.
Details of the Vice President and Dr. Jill Biden's returns were also released. The White House says they filed jointly on federal and Delaware ones and Dr. Biden did a non-resident tax one in Virginia. Their adjusted gross income was $379,178 and they paid $86,626 in federal taxes. For state income taxes, they paid $14, 479 to Delaware and $3,515 to Virginia. The couple gave $5,250 to charity.
The Bidens did not get a refund, and owed $7,180.
You can see more details, including a link to a copy of the returns, on the White House website.