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Obama, First Lady gross 2008 income: $2,736,107

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obamatax.jpgUpdated version
WASHINGTON -- President Obama and first lady Michelle's gross income for 2008 totaled $2,736,107, most of it from sales of his best-selling books.

Highlights from the Obama tax return, released Wednesday:

• The couple paid $855,323 in federal income tax and $77,883 in Illinois income taxes.

• Obama earned $2,603,448 from book sales and $139,204 in Senate salary. Michelle Obama was paid $62,709 by the University of Chicago Hospitals.

• The Obamas had relatively few deductions and none for medical or dental. They paid $22,233 in property taxes on South Greenwood in the Kenwood neighborhood of Chicago.

• They gave $172,050 in charitable gifts to 37 charities. The largest donations were $25,000 each to CARE and the United Negro College Fund. Illinois charities include $5,000 each to CURE, an epilepsy foundation founded by Susan Axelrod, wife of senior advisor David Axelrod; the Central Illinois Food Bank; the Illinois Coalition Against Sexual Assault; the Illinois Head Start Council and the Illinois Reading Council.

• The Obamas filed a schedule H for household help, paying $12,480. Tuition totaled $47,488 for Malia and Sasha at the University of Chicago Laboratory School.

• The Loop accounting firm of Wineberg, Solheim, Howell & Shain prepared the Obamas' returns.

Obama's Federal 1040 form

Obama's Federal 709 form

Obama's Illinois State income tax return

obamasignatures.jpg

THE WHITE HOUSE
Office of the Press Secretary
__________________________________________________________________________________________________________________
FOR IMMEDIATE RELEASE
April 15, 2009

President and First Lady Release 2008 Income Tax Returns

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 Catholic Relief Services 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.

Copies of the returns are available below:

Download the President's Federal 1040 form (pdf)

Download the President's Federal 709 form (pdf).

Download the President's Illinois State income tax return (pdf)


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3 Comments

what about foreign presence...students, business, etc., any taxes, etc. in NYC they don't even pay for parking txts. what about CHICAGO, and did the oba's campaign pay-up for grant park?

jeffery mcnary, do you have a clue about how the tax code works? A politician's campaign funds are not his personal funds. The politician cannot receive any financial benefits from campaign funds. That would be illegal. The campaign paid the city of Chicago for the use of Grant Park.

Are you saying that Obama should pay for parking tickets for everyone who lives in New York? Are you serious or is that question a joke?

dearest j,
fyi, presidential candidates are allowed a salray from their campaigns as long as it does not exceed the/ a salary the candidate recieved prior to entering the race. to answer your initial question, yes. as far as your second attempt at shallow inquiry, no. and in closing, i did intend some humor. i have no questions for you. wouldn't want to be, well, taxing.

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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This page contains a single entry by Lynn Sweet published on April 15, 2009 4:17 PM.

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