Monday, April 18, 2011
Obama and Biden Release Their 2010 Tax Returns
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:
Biden:
Press and blogosphere coverage:
- ABC News
- Bloomberg
- CNNMoney
- The Hill
- Los Angeles Times
- New York Daily News
- USA Today
- Wall Street Journal
- Washington Post
https://taxprof.typepad.com/taxprof_blog/2011/04/obama-and-biden.html
Comments
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 18, 2011 9:50:20 PM
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 18, 2011 9:51:04 PM
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 18, 2011 10:28:24 PM
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 7:20:39 PM