President Obama's Tax Return Contents Released
The first couple's tax return shows an adjusted gross income of $1,728,096
It’s tax season – and not even the President of the United States can escape the IRS.
President Barack Obama’s tax returns were released Monday, showing he and First Lady Michelle Obama filed jointly and reported an adjusted gross income of $1,728,096. The couple paid $453,770 in total federal tax, and $51,568 to Illinois in state income taxes.
The majority of their income came from sales of the president’s books, according to a White House press release.
Among their expenditures during the year: $245,075 in donations, while their largest charitable gift was $131,075 to the Fisher House Foundation, though they gave to a total of 36 charities.
The Bidens also released the contents of their tax return on Monday.
Vice President Joe Biden and his wife, Dr. Jill Biden, reported an adjusted gross income of $379,178 – and paid $86,626 in total federal taxes for 2010.