Obama 2012 tax return: $609G in income, $112G in taxes paid

WASHINGTON -- President Barack Obama made less in 2012 than in any other year since taking office, with about 40 percent of the nearly $609,000 in income he and first lady Michelle Obama reported coming from book sales.

Obama, who renewed his call for higher taxes on the wealthy in the budget he released Wednesday, paid $112,214 in taxes last year, putting his effective federal tax rate at 18.4 percent, according to tax returns released by the White House.

Most of the $608,611 the Obamas reported in adjusted gross income came from the president's salary, $394,840. He got $258,772 in royalties from his books, including his 1995 memoir "Dreams from My Father" and 2006 political book "The Audacity of Hope."

Income from the books has fallen since 2009, when his book sales surged after his inauguration. The Obamas made $5.5 million that year.

The president and first lady reported donating $150,034 -- or 24.6 percent of their income -- to 33 charities. That's down from the previous year, when they donated more than $172,000.

The largest contribution last year was a $103,871 donation to Fisher House Foundation, which provides humanitarian services to military members, veterans and their families. Other groups that received donations for $5,000 or less include the American Red Cross, Habitat for Humanity, Boys & Girls Clubs of America and the United Negro College Fund.

The Obamas would pay about $3,300 more in taxes under the new rates for higher-income taxpayers that took effect Jan. 1, Bloomberg News reported.