Obama Tax Return Released For 2011 (DOCUMENT)

President Barack Obama's federal income and gift tax returns for 2011 were released by the White House on Friday along with those for Vice President Joe Biden.

The Obamas had a reported adjusted gross income of $789,674. From the White House blog:

About half of the first family’s income is the President’s salary; the other half is from sales proceeds of the President’s books. The Obamas paid $162,074 in total tax.

Below, Barack and Michelle Obama's tax receipt as released by the White House. See anything interesting in the document? Send as a tip at [e-mail]

Obama Taxes

Also on HuffPost:

Comments

[traditionalliberalsrock]

12:47 PM on 08/27/2012

Gotta luv it...Mr. and Mrs. "Fair Share" and the "rich should pay more" (once again) - itemized their deductions to the tune of over $278,000. Why did they not just take the standard deduction ($11K in 2011) instead of avoiding taxation on over $260,000 in income? Seems kinda’ Fat-Catish to me.

Then there is that $269,000 in income from Foreign countries (Form 1116). I like how they simply put “Other CountRIE” (i.e., unnamed and plural). Hmmm…..show me your FOREIGN tax returns Mitt, err, Barack!!!! LOL

Then there is that nice $49,000 contribution to retirement plans as well as gifts of $12,000 to both Sasha and Malia, all nicely deducted and passed on to avoid future estate tax liabilities.

Kudos to Barack and Michelle for giving so much to Charity….they are both going to be pi$$ed when they lose the election….LOL.

Sure seems kinda’ 1%ish and all to me.

[MaggieNYS]

07:13 PM on 04/12/2013

They gave over $172,000 to charity. It's part of the $278,000 you mentioned. Part of why Mitt lost is because he didn't show his return, but even if he had, as he himself stated, he wouldn't have been elected. "You people have seen all you're going to see".

[Tawnee Cowan]

10:37 AM on 08/17/2012

so here is a question if the President is so concerned about taxing the 1 percent, then why does he and his wife claim exemptions on their taxes? I mean they are the top 1 percent, and they think that the top 1 percent should pay higher taxes, yet I just reviewed their tax returns and they claim several exemptions that they can actually afford to pay. He claims self employment exemptions, $54,911.00 page 1 line 28, he claims $278,498.00 page 2 line 40 in other deductions.

[traditionalliberalsrock]

12:51 PM on 08/27/2012

I liked the $269,000 in Foreign Income (Form 1116) from "Other Countries" - unnamed and plural.

Show us YOUR Cayman and Swiss accounts Barack!!! LOL

[swhiteinme]

07:50 PM on 09/21/2012

The foreign income was from sales of his books overseas. Please do more reading.

[DocSAR]

12:17 AM on 04/20/2012

Weird how the Obama's are suddenly making less than 1M annually as election day is closer. In 09 they made millions. In '10 they made 1.8M. Not surprising that Huff Post has reported nothing about the Obama's $24k tax refund this year or nothing about the fact that they're fed tax bill is approx 20% of they're income.

[Jamal Dash Burgess]

09:56 PM on 07/19/2012

They made money off book sales...everyone has his book now.

[SnookyTLC]

02:37 AM on 08/13/2012

The excess came the year his book came out, and he received royalties after that.

[seriouslyfalling]

03:30 PM on 02/05/2013

You only receive royalites as the book sells...NEW. You do not make royalties off of used book sales and there are so many of his books out there used for only a buck or two, he is NOT making that kind of money on his book any longer. Believe the lie if you wish, thinking people do not. Everyone knows that the rich hire good lawyers to cover any tracks their money might have...Barrack is not different.

[kuhlman5]

08:49 AM on 04/15/2012

From 2009 IRS data those making over $1mil represented 0.23% of all returns and on average paid 29.15% of there income towards federal taxes.

[murphthesurf3]

11:04 AM on 04/14/2012

OBAMA'S INCOME: 20.1% IN FEDERAL TAXES; 22.5% TO CHARITY
Plus $1.4 Million Nobel Prize Money To Charity

$5.6 million in income and $1.8 million in taxes..
20.1 Percent in Federal Income Tax
The average top One Percent Income Earner pays 21.8 percent.

The Obamas' overall rate was still much higher than that of most middle-income Americans. Households making between $60,000 and $100,000 paid on average 8% of their income in federal incomes taxes, according to the Tax Policy Center.

The Obamas donated $172,130 to charities in 2011, or about 22.5% of their adjusted gross income. The largest beneficiary was the Fisher House Foundation, which received $117,130 — the after-tax proceeds of the president's children's book, "Of Thee I Sing: A Letter to My Daughters."

In addition, there was that $1.4 million in Nobel Prize money not included on the form because President Obama turned it entirely over to charity

WHY WASN'T ALL OF THIS IN THE HP ARTICLE?

[David Lambertson]

02:45 PM on 04/14/2012

For God sakes' will you please start accurately reporting his tax rate is 32.6%. You calculate tax rates on taxable income (i.e., after deductions). His was $496K. Please, it is not that hard to report this correctly. You are helping in perpetuating mis-information.

[murphthesurf3]

03:16 PM on 04/14/2012

Take up your complaint with the White House:

"The President’s effective federal income tax rate is 20.5%. The President believes we must reform our tax system which is why he has proposed policies like the Buffett Rule that would ask the wealthiest Americans to pay their fair share while protecting families making under $250,000 from seeing their taxes go up. Under the President’s own tax proposals, including the expiration of the high-income tax cuts and limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it."

http://www.whitehouse.gov/blog/2012/04/13/president-obama-and-vice-president-biden-s-2011-tax-returns

[murphthesurf3]

12:12 AM on 04/17/2012

I went to your blog. Read the whole thing. It helped to see your entire  argument in one place.Two key paragraphs.

The White House and the news folks all used Obama's Adjusted Gross Income - not his taxable income is the number to compare his taxes against.

But why would the President lie about his effective tax rate? Well, it's pretty simple. It's because he wants to pass tax reform. Predominately, he wants the Bush Tax cuts to expire and he wants to pass something called the Buffet Rule.

Now I get it. I see your argument and it does make sense.

I am going to ask a Tax Accountant I know look at your material to see what he thinks. I suspect he will agree with you.

SO, for all your trouble....Fanned. Which makes me fan number 2. I am going to bookmark your blog. If you fan me back we will be in a network which makes mutual contact easier. Something that might be worth doing.

[OrbitalR]

08:52 PM on 04/19/2012

Your information appears to be a repeat of the leftwing media and not the federal tax bracket the potus should fall into.
FYI - you don't have to be a CPA to look up gross income on the federal tax table....
So much for accuracy - Pundit?

[murphthesurf3]

09:56 PM on 04/19/2012

The rates and figures I quoted can be found in the Wall Street Journal, Reuters, Financial Times, Bloomberg, and other left wing media outlets....oh wait, these are conservative. It is funny that left wing folks say I am using right wing sources because the presidents's tax bracket per the IRS is higher than this, but most media are reporting an effective rate- what he paid.

[dwwill]

10:38 PM on 04/13/2012

Obamas secretary paid more in taxes than He did. Way to set the example for all Americans to follow.

[roc-o-rama]

01:40 PM on 04/14/2012

Seriously, stop listening to Fox and Friends put up or shut up. Baseless rhetoric doesn't stick here.

[dwwill]

01:14 PM on 04/15/2012

I don't watch FOX or CNN, you must if you think thats what I'm saying. You Libs always blame FOX when something is printed you don't like. Do ya think maybe they are right after all and you just can't understand the truth? No need to respond with more of your hate, I know your type the delete button makes my day.

[David Lambertson]

03:06 PM on 04/14/2012

No she didn't. Her entire salary was $95,000. Obama paid $162K in taxes (almost double her total salary) and he paid it at a rate of 33% of his taxable income.

[seriouslyfalling]

03:42 PM on 02/05/2013

Ahh! So now we get to calculate our tax rates according to taxable income? Sweet! Then my tax rates are considerably higher than Obama's and I make considerably less! His effective tax rate is 20.1% of his total income. If you only take into consideration his tax rate after he takes off his deductions, then every single rich person in America can do the same, meaning they are ALL paying much higher tax rates...not the "miserly" 20% that Obama wants to increase! Some rich people have so many deductions that they are paying taxes on a a far smaller percentage of their income than even the Obama's are!
The truth is that Obama is SAYING he should pay more in taxes, yet he (and every other liberal in DC) are taking every tax deduction known (and a few rare ones) in order to REDUCE the amount they pay in taxes!

[empiresentry]

03:46 PM on 02/05/2013

you clearly do NOT understand the difference between effective taxable rates and marginal tax rates. You chose to use your faulty logic for Obama and then suddenly forget it when looking at Romney's taxes. What an Inconvenient Truth for you.

[senatortruth]

07:30 PM on 04/13/2012

Question in 1992 Presidential Campaign:

"Mr. Perot, how do you feel about the Congress

refusing to give President (H)(W) Buuhuhsh

Capital Gains (lost to the wealthy in 1986, with

sales tax and interest ALSO no longer deductible)?"

Perot:

"You know, MY money makes mone

24 HOURS A DAY.

A normal worker only makes money

8-10 hours per day.

If I have to pay my FAIR SHARE in taxes,

I am PROUD to do so".

[GoDetroit]

06:38 PM on 04/13/2012

How hard would it be for the Obama's to open Credit Union Accounts (for the children also)? Just another sign that they are out of touch with us. They don't seemed to be concerned about the 99% and just strive be part of the 1%.

[DADGAD]

04:59 PM on 04/13/2012

I am very impressed with our President. Aside from being a great President for middle class causes is definitely a man who puts his money where his mouth is. 22% to charitable causes. Mr. Santorum who talks up a real good faith story gave only 2% of his income which I believe - Mr. Santorum's income was great President Obama's.

[tootitnbootit]

10:46 PM on 04/19/2012

to be honest, he talks alot about doing things for the middle class but he is going to destroy the middle class. He is authorizing huge money printing and when the inflation hits there will be only super rich financial elites, and all the people who cant afford walmart plastic crap anymore. Obama just signed huge free trade agreements with indonesia, Vietnam, Chile, etc and is going to floor the US with more cheap stuff to knock american workers out of business. Mitt Romney is the terrible too, but the claims the administration makes are unfounded and the numbers they claim are LIES, unemployment is at 15% and they talk about a .2% improvment... BS.

[Yeswehave]

04:07 PM on 04/13/2012

Thank you, POTUS and FLOTUS . You both could have earned millions working as private citizens, but through love of your country you have made the sacrifice. Don't be distracted by the teabaggers, clowns and republicans. Most appreciate you.

[Wistfulslinking]

03:28 PM on 04/13/2012

He paid about 20% tax on 844k.

Sounds like the 1% rate.

[ticoune]

02:46 AM on 04/14/2012

He's willing to pay more but the repubs don't want him to!!!!!
Would appear you're in favor of the Buffet rule???????

[theexperimentisfinished]

11:58 AM on 04/14/2012

he is welcome to pay more but he did not

[David Lambertson]

12:06 PM on 04/14/2012

OMG! - seriously? To get one's tax rate you don't divide their income taxes by their adjusted gross income - you divide it by their taxable income. Obama's taxable income was $496K - his taxes were $162K - or a rate or 33%. His taxable income is less then his adjusted gross income because he gave a bunch of his income to charity, had personal exemptions, etc.

[Wistfulslinking]

12:23 PM on 04/14/2012

Seriously...you sound like a valley girl.

Everyone with real wealth gives a percentage away as a tax break. It's the norm in financial planning.

The Washington Post agrees with me, as do the other respectable sources.
You, sadly, are not amongst them. ;)

[roc-o-rama]

01:48 PM on 04/14/2012

David, I think you haven't realized that GOP/t-bagger math never follows a logical or precise path of reasoning (basic algebra.) Why do you think they all want to cut spending on education especially in the math and science fields.
Faved your comment for correctly displaying simple math on calculating the tax rate Obama paid.

[Dan J S]

02:38 PM on 04/13/2012

Hahaha - Obama is a hypocrite

President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday.

The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes.

There is nothing illegal about the president’s taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthy—“millionaires and billionaires” like himself—to pay less in taxes. He has yet to propose a comprehensive plan to reform the byzantine tax code.

[DADGAD]

05:04 PM on 04/13/2012

Yeh! Mr. Romney has put how much in offshore accounts in special trust accounts...Swiss Banks and Caman. What are you talking about? If you have young children which I bet you don't you would realize that putting money away for their future is a great idea! And why not! As President Mr. Obama has one of the highest risk jobs in the world. Remember John F. Kennedy who left behind two small children.

[Skago]

06:07 PM on 04/13/2012

There's a difference from putting the money in an investment for the kids and giving it to them as a "gift" so you can write it off on your taxes. "Gifts" for taxes are usually given to people outside the immediate family, but there is a tax loophole that allows you to give it to your children and avoid paying taxes on it.

[ticoune]

02:51 AM on 04/14/2012

The Buffett rule would be a beginning but you're against it. WHY?

[anniesez455]

04:17 PM on 04/19/2012

its a farce...Buffent owes over 1 billion dollars to the IRS since starting 2002....Plus no one truly gains by others losses. It will be passed unto you

[Nation Loused]

02:25 PM on 04/13/2012

Obama's income is down almost 5 million dollars in the last two years.

Performance based pay at it's finest

[ticoune]

03:00 AM on 04/14/2012

His job is not very important and it is normal that he makes less then Rush Limbaught.

[janedorothy4]

02:02 PM on 04/13/2012

Obama should be thankful he and the wife dont have to pay taxes on all those free fundraiser trips as well as free long luxurious vacations with their family and friends. Also no taxes appeared to be attached to his free super expensive parties and dinners with the stars to raise more money for his campaigning.

[i3lackops]

02:52 PM on 04/13/2012

Any money spent on vacations is not considered income, hence, no income tax. money spent on campaigns is handled by his campign organization, not himself.

[flamengo1265]

05:17 PM on 04/13/2012

If your employer bears the costs of you and your family's vacation (travel, meals and/or lodging) the IRS considers that "income" to you....and when Obama runs down to Palm Beach County FL to give a 15 minute policy speech/photo op and then hits three or four fundraisers around the county, the DNC doesn't pay the expenses, nor does Obama, it's the American taxpayer picking up the tab while Barack picks up the checks.

[HowlingVoyager]

10:05 PM on 04/13/2012

Short term memory syndrome. It's terrible, I know. But just a reminder. The Bush presidency? Happened not all that long ago. Parties? Vacations to his ranch in Texas? Fund raisers?

Just so you know.

[treadway123]

01:58 PM on 04/13/2012

I don't think these guys can read! Obama pays 35% tax, 22% Charity an other interest Rest on U.S. Northern Trust Security, U.S J.C Morgan only $5,000., U.S Bond premiums, 20000 U.S Treasury Bill.---------------NO swiss Bank Accounts, no over sea's interest, No caymen Island bank Accts. This makes Obama 6 yrs back tax when he was a Candidate, an now 3yrs as President he showed his Tax's Openingly to the American people====9 yrs! NOW lets see if Romney will show 9 yrs of his tax's to us.