Obama’s 2010 return: $454K in federal taxes on $1.7M in income

President Obama and first lady Michelle Obama paid $453,770 in federal taxes on a gross income of more than $1.7 million in 2010, the White House said Monday.



The Obamas also paid $51,568 in state taxes to Illinois.



Like many Americans, the first and second couples do their taxes last minute. The Obama tax return is signed April 13 while the Bidens signed theirs on April 14.

The Obamas made less than in 2009. The Obama’s in 2009 paid taxes on an adjusted gross income of $5,505,409.

Of the Obama’s income a large portion, $820,751 came from foreign sources.

{mosads}The White House said the first family donated about 14.2 percent of their income — $245,075 — to 36 different charities. The largest gift went to the Fisher House Foundation, a public-private partnership that assists military families.



“The vast majority of the family’s income is the proceeds from the sale of the president’s books,” the White House said, including “Dreams From My Father” and “The Audacity of Hope.”  



The president is planning to donate the after-tax proceeds from his children’s book, “Of Thee I Sing,” released last year, to a Fisher House scholarship fund “for children of fallen and disabled soldiers.”

The Obamas received a $12,334 refund, which they are applying to next year’s taxes.



Vice President Joe Biden and his wife, Jill, reported paying $86,626 in federal taxes on $379,178 in income. The Bidens paid just under $15,000 in state taxes in Delaware and a little over $5,000 in Virginia.

The Bidens owe $7,180.

Both the Obamas and the Bidens checked the $3 donation box for the presidential election campaign fund, which House Republicans voted to eliminate this year.

The president’s accountant remains the same as last year: Michael Solheim of Wineberg, Solheim, Howell & Shian in Chicago.

The tax returns can be viewed here.

— This story was last updated at 3:16 p.m.