- The Washington Times - Friday, April 10, 2015

President Obama and first lady Michelle Obama reported income of $477,383 in 2014, down about 0.8 percent from last year, according to tax returns released Friday by the White House.

The Obamas paid $93,362 in federal taxes, for an effective income tax rate of 19.6 percent. They made most of their income from the president’s $400,000 salary, plus about $16,000 in interest and $88,000 in book royalties.

It was the couples’ lowest income since 2004, before Mr. Obama was elected to the Senate. The Obamas paid $39,566 in mortgage interest.

The tax return also indicates that the Obamas overpaid their federal taxes in 2014, and will receive a refund of $20,641.

The Obamas donated $70,712 to charity, nearly 15 percent of their adjusted gross income. They gave their largest donation, $22,012, to the Fisher House Foundation, an organization based in Rockville, Maryland, that provides housing to families of military members and veterans receiving medical treatment.

Vice President Joseph R. Biden and his wife, Jill, reported $388,844 in adjusted gross income and $90,506 in federal taxes, for an effective tax rate of 23.3 percent.

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