President and First Lady Release 2008 Income Tax Returns
By admin - Posted on April 17th, 2009
April 15, 2009 -- Today, the President released his 2008 federal income tax returns. He and the First Lady filed their income tax returns jointly and reported an adjusted gross income of $2,656,902. The vast majority of the family’s 2008 income is the proceeds from the sale of the President’s books. The Obamas paid $855,323 in federal income tax.
The President and First Lady also reported donating $172,050 – or about 6.5% of their adjusted gross income – to 37 different charities. The largest reported gifts to charity were $25,000 contributions to CARE and the United Negro College Fund.
The President and First Lady also released their Illinois income tax return and reported paying $77,883 in state income taxes.
Source: White House
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