From the Wall Street Journal:
President Barack Obama and First Lady Michelle Obama paid $112,214 in federal income taxes in 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said Friday.
The first family’s income declined from the $789,674 in adjusted gross income they reported in 2011. That year they paid total federal taxes of $162,074, an effective rate of 20.5%. Their 2012 income continues a steep decline from 2010 when they reported $1.7 million in adjusted gross income, the bulk of which was royalties from sales from books written by Mr. Obama.
The rate is fairly low for people of the Obamas’ means, but a big part of the reason appears to be that they gave a particularly large amount to charity – $150,034, or about 24.6% of their adjusted gross income.