Print options

April 14, 2010

White House: Obamas Earned $5.5 Million in 2009

The White House says President Barack Obama and first lady Michelle Obama earned $5.5 million last year, and paid nearly $1.8 million in federal income taxes.

Mr. Obama released his 2009 tax return Thursday, the deadline for Americans to file their federal taxes.

The Obamas donated about $330,000 to 40 different charities.  The largest donations included $50,000 to the United Negro College Fund and $50,000 to CARE, a humanitarian organization that fights global poverty.

Mr. Obama also donated his $1.4 million Nobel Peace Prize funds to 10 charities.

The White House says Mr. and Mrs. Obama earned most of their income from sales of the president's books.

Vice President Joe Biden and his wife, Jill, also released their tax returns Thursday.  

The White House says they earned an adjusted gross income of about $330,000, while paying out $71,000 in federal income taxes.

Some information for this report was provided by AP, AFP and Reuters.