WASHINGTON – President Obama on Friday released his 2015 federal income tax returns, showing the first family's effective tax rate is 18.7%. Obama and his wife filed their returns jointly and reported adjusted gross income of $436,065. The couple paid $81,472 in total tax. The Obamas donated $64,066 to charity, with the largest contributions going to the Fisher House Foundation, the Beau Biden Foundation and Sidwell Friends School, which is where their two children are in high school.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.