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Monday, April 18, 2011

Obama and Biden Release Their 2010 Tax Returns

Obama Tax Return

President Obama and Vice-President Biden today released their 2010 tax returns. Here are charts putting the 2010 returns in context with their earlier returns:

Obama:

Obama Return 

Biden:

Biden Tax Returns _041811_ 

Press and blogosphere coverage:

http://taxprof.typepad.com/taxprof_blog/2011/04/obama-and-biden.html

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Comments


My adjusted gross income at a small law firm was $119,000 (not counting 16,500 in a 401k), yet I managed just over $19,000 in charitable contributions for 2010, or about 16 percent. Why is that so hard for politicians?

Posted by: Andy Patterson | Apr 18, 2011 10:20:39 PM

So, the Bidens in 2010 report rental income from a Delaware "cottage." This is new; no rental income in 2009. They report $13,200 gross rents, and the only deduction is $2,200 for commissions. No deduction for real estate taxes.

Is this property exempt from real estate taxes? Or did they include them in their Schedule A deductions? (2009 amount $13,320; 2010 amount $13,369.) Putting them on Schedule A, however, increases their AMT.

Posted by: Bob | Apr 19, 2011 12:50:20 AM

Well Andy, it's bc u actually care about charities. Like the college student running for spanish club president, Obama just wants something to look good on his taxes/resume.

Posted by: joe | Apr 19, 2011 12:51:04 AM

Biden should really start thinking about endorsing some stuff if he wants to catch up with the President's income. I hear there's an opening for Prozac spokesman... http://lawblog.legalmatch.com/2011/04/14/prozac-ad-model-sues-because-she-doesnt-have-depression-irony-ensues/

Posted by: Ippo Punch | Apr 19, 2011 1:28:24 AM

I hope the voters' income is not moving in the same direction as his.

Posted by: mike livingston | Apr 19, 2011 1:31:25 AM