Obama made 1.73 million dollars last year

08:29, April 19, 2011      

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U.S. President Barack Obama attends a ceremony presenting the Commander-in-Chief Trophy to the Air Force Academy football team in the Rose Garden of the White House in Washington D.C., capital of the United States, April 18, 2011. The White House released on Monday the President's 2010 federal income and gift tax returns. Obama and Michelle filed their income tax return jointly and reported an adjusted gross income of 1,728,096 dollars. The Obamas paid 453,770 in total federal tax. (Xinhua/Zhang Jun)

U.S. President Barack Obama and his wife Michelle made over 1.73 million dollars last year, and paid 453,770 dollars in federal tax, the White House said Monday.

The White House released the president's 2010 federal income and gift tax returns. Obama and Michelle filed their income tax return jointly and reported an adjusted gross income of 1,728,096 dollars. The vast majority of the family's income is the proceeds from the sale of the president's books. The Obamas paid 453,770 in total federal tax.

The Obama family also reported donating 245,075 dollars or about 14.2 percent of their adjusted gross income to 36 different charities. The largest reported gift to charity was a 131,075-dollar-contribution to the Fisher House Foundation.

The first family also released their Illinois income tax return and reported paying 51,568 dollars in state income taxes.

Vice President Joe Biden and his wife Dr. Jill Biden didn't make as much as the Obamas. Their tax return indicated they reported an adjusted gross income of 379,178 dollars. The Bidens paid 86,626 in total federal taxes for 2010. They paid 14,479 in Delaware income taxes and 3,515 in Virginia income taxes. The Bidens contributed 5,350 dollars to charity.

The Bidens filed joint for federal and Delaware income tax returns. Jill Biden filed a separate non-resident tax return for the state of Virginia.

Source: Xinhua

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