Categorized | National News

Obamas Paid Over $450K In Taxes On $1.7 Million Income

WASHINGTON — President Barack Obama and his wife, Michelle, reported income of $1.728 million for last year, much of it from the sale of the president’s pre-presidency books. They paid federal taxes totaling $453,770 after receiving a $12,334 refund.

Joining the flocks of Americans filing their taxes near the end of the federal filing period, the Obamas made withholding and other payments to the Internal Revenue Service last year totaling $466,104. That was an overpayment, so they got their refund. The president and first lady reported donating $245,075 — about 14.2 percent of their adjusted gross income — to 36 different charities.

The largest single gift was a contribution of $131,075 to the Fisher House Foundation, a charity that offers a scholarship fund for children of soldiers who die or are disabled.

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