President Barack Obama and first lady Michelle Obama released their tax returns on Friday, as did Vice President Joe Biden and his wife Jill. The returns can be viewed here
The Obamas had adjusted gross income of $789,674 last year. After deductions and exemptions, their taxable income was $496,376. Their federal income tax bill was $162,074, and they’re due a refund of $24,515.
According to the White House, about half of the income was the president’s salary and the rest came from sales of his books.
The Obamas reported charitable donations of $172,130, with $117,130 of that going to the Fisher House Foundation, a scholarship fund for the children of fallen and disabled soldiers.
The president and first lady paid $31,941 in state income tax to Illinois.