10 Interesting Things We Learned From Barack Obama's Tax Return

obama tax return 2010

Even the man at the top has to pay Uncle Sam.

Obama paid a whopping $1.8 million income tax, which means his income is much higher than the $400,000 they talk about in civics class. That’s because this guy is a best-selling author.

We’ve found all kinds of somewhat interesting details in the president’s tax return.

Here’s The Tax Return Highlights >

Barack Obama earned $5.5 million last year... most of it from book sales

He wrote off $866 in office expenses for his book project

Obama paid $59 thousand to foreign governments! (Taxes on book sales)

He also earned money from a diversified portfolio

Obama inherited several hundred thousand dollars from his grandmother... on which he paid around 33% in taxes

They still get their taxes done by a Chicago firm

Obama received $1.4 million from the Nobel Committee... and gave it all to charity

Obama gave 6% of his income to charity (not counting Nobel Prize money), while most people give only 3.3%

Source: Fox Business

Obama gives disproportionately (25%) to charities located in Chicago

Assuming a 32% rate, Obama will pay 1.79 million in income tax

He also paid $160,000 in state income tax to Illinois

Source: MSNBC

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