President Barack Obama and Vice President Joe Biden released their 2010 tax returns on April 18, 2011.
Obama reported $1,795,614 of total income, which consists mostly of his salary as president ($395,188) and proceeds from the sale of his books ($1,382,889). Obama also itemized his deductions, reporting deductions for state income taxes, property taxes, mortgage interest and charity. The Obamas paid federal income taxes of $416,734, roughly 23% of their total income. Obama also contributed to the maximum to a pre-tax retirement plan based his self-employed book proceeds.
The Bidens reported total income of $379,178 on their 2010 tax return, which consists mostly of the vice president's salary of $255,888 and Jill Biden's salary as a college teacher of $82,488. The Bidens also itemized, taking deductions for state income tax, property tax, mortgage interest, and charity. Like many other taxpayers, the Bidens got hit with the Alternative Minimum Tax. The Bidens paid federal income taxes of $86,407, roughly 23% of their total income.
The President also released copies of his federal gift tax return and his Illinois state return. The Bidens included copies of their Delaware and Virginia tax returns.
The Tax History Project has compiled several presidential tax returns.