- Days left

Obama Tax Return Shows 2011 Earnings of $789,674

×
Obama familyWASHINGTON (AP) - The White House says President Barack Obama and his family paid more than $160,000 in federal taxes last year.

The president's 2011 federal income tax return shows reported adjusted gross income of about $790,000 last year. About half of the first family's income is the president's salary. The White House says the rest comes from sales of Obama's books.

Obama's effective tax rate is just above 20 percent - lower than many Americans who earn less. He has made tax-rate fairness a campaign issue.

The White House released a copy of the president's tax return, which also shows charitable donations of more than $172,000.

Obama is donating after-tax proceeds from his children's book to the Fisher House Foundation. The charity helps veterans and military families receiving medical treatment. Obama tax return shows 2011 earnings of $789,674.

Obama's tax form

Increase your money and finance knowledge from home

How to Avoid Financial Scams

Avoid getting duped by financial scams.

View Course »

Getting out of debt

Everyone hates debt. Get out of it.

View Course »

TurboTax Articles

Top 5 Reasons to Adjust Your W-4 Withholding

Common lifestyle changes, like getting a job or getting married, can change your tax liability. To avoid being caught off guard by an unexpected tax bill or huge tax refund, you'll need to adjust your withholdings on your paycheck.

Does Everyone Need to File an Income Tax Return?

Not everyone is required to file an income tax return each year. Generally, if your total income for the year doesn't exceed the standard deduction plus one exemption and you aren't a dependent to another taxpayer, then you don't need to file a federal tax return. The amount of income that you can earn before you are required to file a tax return also depends on the type of income, your age and your filing status.

How to Write Off Sales Taxes

The Internal Revenue Service (IRS) permits you to write off either your state and local income tax or sales taxes when itemizing your deductions. People who live in a state that does not impose income taxes often benefit most from this deduction. However, you might also be better off deducting sales taxes instead of income taxes if you make large purchases during the year and your total sales tax payments exceed those for state income tax. You can use either the actual sales taxes you paid or the IRS optional sales tax tables.

Add a Comment

*0 / 3000 Character Maximum

2310 Comments

Filter by:
coxdancox

He's my neighbor, but he's making a helluva lot more than me.

April 20 2012 at 1:18 PM Report abuse rate up rate down Reply
ha6ai

President Mitt Romney

What a relief! Sounds wonderful!

April 19 2012 at 12:15 AM Report abuse +2 rate up rate down Reply
Jo

Does anyone know how the Pres. qualified for a "Foreign Tax Credit"? What's that all about................

April 18 2012 at 8:32 PM Report abuse rate up rate down Reply
indisposed99999

Not a tax professional, but as someone that makes roughly the same as the President, I find it hard to believe that he could have $250K in itemized deductions, and not owe more than $12K under the AMT.

April 17 2012 at 1:54 PM Report abuse rate up rate down Reply
Fuelexp

Is all his job benefits being taxed--Housing and all the perks? He should be getting a 1099 on those.

April 16 2012 at 6:56 PM Report abuse +1 rate up rate down Reply
1 reply to Fuelexp's comment
Curtis

He's getting what every other President before him got, and is being taxed accord to the IRS. These stories on politicians, democrats and republicans, about what they pay in taxes are dumb. Unless they lie on there taxes, they are taxes according to the law of the land. If you (not you Fuelexp, but everyone) think that our politicians are not paying enough taxes, then vote to change the tax laws.

April 16 2012 at 8:46 PM Report abuse -1 rate up rate down Reply
2 replies to Curtis's comment
Setanta

you got it @$$backwards AS IT'S THEM crying for INCREASED TAXATION---
bunch of hypocritical son's of sea turtles--

April 16 2012 at 10:16 PM Report abuse rate up rate down
indisposed99999

The issue is not whether he is paying all of the taxes he owes. Rather, the reason why its news is that it exposes what would appear to be rank hypocrisy on his part. First off, he was the one that MADE THE ISSUE OF WHAT POLITICIANS PAY IN TAXES THE ISSUE, when he called out Romney paying only 15%.

Like Obama, Romney is paying what is required under the current law. Its a bit hypocritical for the President to say Romney isn't paying his fair share, but then hide behind "I pay what the law requires" when its exposed that he also falls short of the "Buffett Rule" requirement to pay 30%. At minimum, its appears incredibly self-serving to say that people making marginally more than him should pay a minimum average tax rate of 30%, when he is only paying 20%.

That said, he isn't paying less in income taxes than his secretary, no matter how many news sources want to say that. You have to include payroll taxes in that equation to get her "average" rate over his. Of course, thats the very definition of comparing apples to oranges.

Full disclosure, I am a democrat, and I sincerely hope Obama is releected. Not because I think he's been a decent President...he's been an unmitigated disaster, and Romney's chief criticism that he wasn't "ready for prime time" has been right on the mark. Rather, I want him reelected because the single most important issue for the continued prosperity of this country is entitlement reform, and I think only a democratic President can get democratic votes in the senate to make that happen.

April 17 2012 at 1:53 PM Report abuse rate up rate down
mrscdel

EVERY DIME he and his wifes trips etc ...right down to green fees should be listed as his INCOME and he should be taxed on it. So if added for all the vacations he made MILLIONS MORE!!!!!!!!

April 16 2012 at 9:46 AM Report abuse +3 rate up rate down Reply
3 replies to mrscdel's comment
Setanta

now with basically 790Gs....shouldn't o'bama BE paying more TAXES ?
what happened with the buffeTBS ?
and WHY can't THEY PUT MOOSHELLS mum in HER OWN HOME ?

April 15 2012 at 11:39 PM Report abuse +1 rate up rate down Reply
1 reply to Setanta's comment
Curtis

Because the tax laws are written to shelter the rich. That not his fault or any President before him. This is the IRS rules.

April 16 2012 at 8:49 PM Report abuse -2 rate up rate down Reply
1 reply to Curtis's comment
Setanta

BULL SPIT as him and his bunch are the very ones crying about making so much money and their hirelings having TO PAY MORE in taxes than they DO.
buff_IT.

April 16 2012 at 10:18 PM Report abuse +1 rate up rate down
Somey

joeproblemchild

Individual liberty. Next question

except religious right

April 15 2012 at 6:28 PM Report abuse -2 rate up rate down Reply
KH

One of the key things in liberal politics is they know what is best for the rest of us. The liberal politician believes in equality for all the common people. They do not put themselves in this class nor believe the laws they write pertain to them. They are elitists. The liberals that support them do not comprehend that they are considered their subjects. They want their subjects paying high taxes , riding on buses, and be happy living a marginal life. The rulers will be paying less tax and flying on private jets. The same goes for the Hollywood crowd. They think their life should be above the rules for the little people. But the liberals support them. It is hard to conclude that a liberal could be very smart.

April 15 2012 at 12:30 PM Report abuse +1 rate up rate down Reply
2 replies to KH's comment
Somey

"happy living a marginal life" interesting comment, and exactly what does the other side have to offer the middle class?

April 15 2012 at 1:04 PM Report abuse -4 rate up rate down Reply
Curtis

If you listen to Obama and help change the taxs laws, he would be paying more taxes, but the conservatives keep fighting him on his plan to raise his own taxes. He paying exactly what the IRS said he owes.

April 16 2012 at 8:53 PM Report abuse -2 rate up rate down Reply
1 reply to Curtis's comment
Setanta

bull---as if we never KNEW all about THEM,their ACCOUNTANTS and the loopholes--
misha and sassha whatever their names are even got GIFTED a couple of grand EACH--
gee curtis,why'd THEY do THAT ?????????

April 16 2012 at 10:22 PM Report abuse +1 rate up rate down
kngathr

More discussion at FixTheNation.com about FAIRNESS, REFORM and the difference between soundbites and solutions... VOTE in November- it still it Your Voice, Your Vote, Our Country.

April 15 2012 at 11:31 AM Report abuse rate up rate down Reply
1 reply to kngathr's comment
Setanta

LOL
vote and hope it doesn't get DILUTED via the FRAUD
vote and hope it even GETS COUNTED.

April 16 2012 at 10:23 PM Report abuse rate up rate down Reply