WASHINGTON (AP) — President Barack Obama and his wife, Michelle, are reporting income of $1.728 million for last year, much of it from the sale of the president’s books. They paid federal taxes of $453,770.
The Obamas, joining the flocks of Americans filing their taxes near the end of the federal filing period, were entitled to a refund of $12,334 after federal withholding and other payments totaling $466,104. The president and first lady reported donating $245,075 – about 14.2 percent of their adjusted gross income – to 36 different charities.
Their adjusted gross income for 2010 was below the $5.5 million they reported for the year before, also mostly from book sales.
Obama paid taxes at lowered Bush-era rates even as he campaigns to end them for wealthier Americans.
(Copyright 2011 by The Associated Press. All Rights Reserved.)