Obamas Pay $454K in Fed Taxes

The Hill reports:

President Obama and first lady Michelle Obama paid $453,770 in federal taxes on a gross income of more than $1.7 million in 2010, the White House said Monday.

The Obamas also paid $51,568 in state taxes to Illinois.

Like many Americans, the first and second couples does their taxes last minute. The Obama tax return is signed April 13 while the Bidens signed theirs on April 14.

The Obamas made less than in 2009. The Obama’s in 2009 paid taxes on an adjusted gross income of $5,505,409.

Of the Obama's income a large portion, $820,751 came from foreign sources.

The White House said the first family donated about 14.2 percent of their income — $245,075 — to 36 different charities. The largest gift went to the Fisher House Foundation, a public-private partnership that assists military families.

"The vast majority of the family’s income is the proceeds from the sale of the president’s books," the White House said, including “Dreams From My Father” and “The Audacity of Hope.”