The Obamas Made $5.5 Million in 2009

By: Stephanie Condon
Topics: White House

President Obama and First Lady Michelle Obama released their 2009 federal and state income returns today, reporting an adjusted gross income of $5,505,409. Vice President Joe Biden and his wife Dr. Jill Biden released their returns as well, reporting an adjusted gross income of $333,182.

The vast majority of the president's income came from proceeds from sales of his books. The Obamas paid $1,792,414 in federal income tax and paid $163,303 in state income taxes, according to their returns, which are viewable at WhiteHouse.gov.

The president and first lady also reported donating $329,100 to 40 different charities. The largest donations went to the United Negro College Fund and CARE, an organization fighting global poverty; both received $50,000.

Not including those donations, Mr. Obama also donated the $1.4 million he won with the Nobel Peace Prize. However, the president did not have to report the Nobel prize money to the IRS, nor was he able to take a charitable deduction on the value of the prize, since the Nobel Committee gave the money directly to 10 charities of the president's choosing.

The Bidens paid $71,147 in federal income taxes, $12,420 in Delaware income taxes and $1,477 in Virginia income taxes. They contributed $4,820 to charity, in both monetary and in-kind donations.

The Obamas avoided paying the alternative minimum tax (AMT), a parallel tax code that kicks in when a household qualifies for too many tax benefits and exemptions in the normal tax code.

The returns show Mr. and Mrs. Obama overpaid in 2009 and were owed a $8,287 refund, but they told the IRS to keep it and apply it to their 2010 taxes.

What's Obama Doing to Your Taxes?
What to Do If You Can't Get Your Tax Return In on Time
Five Lessons From Your '09 Tax Return
Tax Day Resources from MoneyWatch.com

Stephanie Condon
Stephanie Condon is a political reporter for CBSNews.com.
Follow on Twitter »

31 Comments Have Your Say
Email Story Send to a Friend
Share This Tell Your Friends
Tweet This Tweet This
More Share It

Add a Comment

See all 31 Comments


by Imadinnerjacket April 16, 2010 12:06 PM EDT: so obama paid less then 33% fed taxes..
and biden paid less then 24%; Reply to this comment


by lakota2012 April 16, 2010 10:26 AM EDT: tsigili: "so where does it come from?"
---------------------

So apparently reading comprehension is not your strong suit, and you can only offer knee jerk reactions to any article by CBS.

It says above "that the vast majority of the president's income came from proceeds of sales of his books."

You conservitards get more pitiful by the day with your partisan attacks!; Reply to this comment


by lakota2012 April 16, 2010 10:21 AM EDT: Funny how the rabid and racist rightwad extremists support capitalism until somebody like President Obama makes millions on his books, and never bring up the fact that caribou barbi has already made $12 Million just in the first quarter of 2010, by selling her soul to the republiCONS.

True delusional hypocrites, but what can be expected from conservitards!; Reply to this comment

by consciousnes April 16, 2010 8:49 AM EDT

Since when does the President get paid $5.5 million?

Reply to this comment


by jclark7613 April 16, 2010 9:35 AM EDT: Are you slow or did you not read that most of the money came from his book sales. Keep up.


by longtree-2009 April 16, 2010 6:17 AM EDT: would be interesting to compare obama, bush, clinton, cheney, biden, gore tax returns for 2009. writing a book, of any kind, is difficult. wonder when obama wrote his, while a private citizen or while in public office. if written while in public office, wonder if he had any help because one wonders where did he find the time?; Reply to this comment


by Dgunner April 16, 2010 4:28 AM EDT: MONEY DOESN'T CHANGE PEOPLE IT ONLY REVEALS WHAT LIES BELOW THE SURFACE.; Reply to this comment


by OrangeCountyAndrew April 16, 2010 3:28 AM EDT: This is going to be off-topic for this article since the article I wanted to comment on was deleted after a storm of protests from the White House.

It was irresponsible of CBS News to allow a partisan conservative who has a history of committing plagiarism to publish a blog that spread malicious false rumors of one of the potential Supreme Court picks. Even if what he said about one of the potential nominees was true, it was besides the point and irrelevant to President Obama's criteria as to what he looks in a Supreme Court nominee.

To the fascist idiots at CBS News, I hope the person the irresponsible blogger was gossiping about sues your organization for libel and defamation.; Reply to this comment


by magnumdr April 16, 2010 2:58 AM EDT: I have not and will never in my lifetime make 5.5 million dollars and if I did make this kind of money I would share it with others. I don't think that I could even spend that much money in a lifetime.; Reply to this comment

by mary-miami April 15, 2010 7:01 PM EDT

Money itself is not evil. What is bad, is when wealthy CEOs are making millions and paying miserable wages that are not "livable" wages to their employees...President Obama is the best leader the US has had in a long time and deserves his salary. He has definitely done more to help the working class than his predecessor. The Democratic party is the only party that tries to help the common working American.

Reply to this comment


by national1942 April 16, 2010 5:19 AM EDT: Pray tell what planet are you living on? Certainly not Earth, that's for sure.

by pragmatist1 April 15, 2010 4:09 PM EDT

The president only believes that he and his wife are entitled to make that kind of money along with those who identify with his beliefs, while those on Wall St. aren't entitled to make that kind of money. Wonder how all of his middle-income, low-income and poor supporters feel about this, especially since they can't even buy cake to eat it?

Reply to this comment


by dmwj2 April 15, 2010 5:47 PM EDT: 5 mil in book sales is a far cry from 10's and 100's of millions in un-derserving "good old boy club" bonuses...