The Obamas earn 5.5 million dollars in 2009: White House

08:20, April 16, 2010      

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The White House on Thursday announced that President Barack Obama and First Lady Michelle took in a neat 5.5 million U.S. dollars in 2009, most of which came from the sale of the president's books.

The Obamas earned 5,505,409 dollars of taxable income, and paid nearly 1.8 million dollars of federal income tax. The 1.4 million Obama received with the Nobel Peace Prize was not included in his gross income, as he asked the Nobel Committee to donate the prize directly to charity.

According to tax code, he is not permitted to take a charitable deduction on the value of that money, since it is not included in his income.

Apart from the Nobel Prize money, the Obamas reported donating 329,100 dollars to 40 different charities. The largest reported gifts to charity were 50,000 contributions to CARE and the United Negro College Fund.

The Obamas also reported paying 163,303 dollars in Illinois state income taxes.

The White House also released the 2009 income of Vice President Joe Biden and his wife Jill. Together, the Bidens reported an adjusted gross income of over 333,182. They paid 71,147 dollars in federal income taxes, 12,420 dollars in Delaware income taxes and 1,477 in Virginia income taxes. The Bidens contributed 4,820 to charity.

The statistics were released on the deadline day for Americans to file their tax forms with the Internal Revenue Service.

Source:Xinhua

(Editor:intern1)

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