Wednesday May 22, 2013
Washington News
President and Vice President Release 2011 Tax Returns
Both President and Mrs. Obama and Vice President and Mrs. Biden have released their 2011 tax returns.
President and Mrs. Obama received income from his salary and book royalties. They deducted $49,000 from book royalties for a simplified employee pension contribution, leaving them with an adjusted gross income of $789,674.
The President and Mrs. Obama itemized deductions and their charitable gifts totaled $172,130. This is 21.8% of their adjusted gross income.
Their largest gift was $117,130 from book royalties to the Fisher House Foundation. This charity assists children of soldiers killed or wounded in Iraq or Afghanistan. Other gifts to the 40 listed charities included transfers to the Red Cross, the Boys and Girls Club, Habitat for Humanity, Sidwell Friends School and the United Negro College Fund.
Vice President and Mrs. Biden received both salary and a pension. Their adjusted gross income was $379,035. They also itemized deductions and reported charitable gifts of $5,540 or 1.5% of their adjusted gross income.
The 16 charities that were listed included the Diocese of Wilmington, Delaware, the Northern Virginia Community College Alumni Scholarship Fund and the World Food Program, USA. Mrs. Biden is a member of the faculty at the Northern Virginia Community College.
President and Mrs. Obama received income from his salary and book royalties. They deducted $49,000 from book royalties for a simplified employee pension contribution, leaving them with an adjusted gross income of $789,674.
The President and Mrs. Obama itemized deductions and their charitable gifts totaled $172,130. This is 21.8% of their adjusted gross income.
Their largest gift was $117,130 from book royalties to the Fisher House Foundation. This charity assists children of soldiers killed or wounded in Iraq or Afghanistan. Other gifts to the 40 listed charities included transfers to the Red Cross, the Boys and Girls Club, Habitat for Humanity, Sidwell Friends School and the United Negro College Fund.
Vice President and Mrs. Biden received both salary and a pension. Their adjusted gross income was $379,035. They also itemized deductions and reported charitable gifts of $5,540 or 1.5% of their adjusted gross income.
The 16 charities that were listed included the Diocese of Wilmington, Delaware, the Northern Virginia Community College Alumni Scholarship Fund and the World Food Program, USA. Mrs. Biden is a member of the faculty at the Northern Virginia Community College.
Published April 20, 2012
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