Today, the President released his 2010 federal income and gift tax returns. He and the First Lady filed their income tax return jointly and reported an adjusted gross income of $1,728,096. 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 President and First Lady also reported donating $245,075 – or about 14.2% of their adjusted gross income – to 36 different charities.  The largest reported gift to charity was a $131,075 contribution to the Fisher House Foundation.  The President is donating the after-tax proceeds from his children’s book to a Fisher House scholarship fund for children of fallen and disabled soldiers.  The President and First Lady also released their Illinois income tax return and reported paying $51,568 in state income taxes.
barack obama tax