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In tax returns the campaign released yesterday, the Obamas reported a significant jump in income from the previous year as profits from the books Dreams From My Father and The Audacity of Hope accounted for about $4 million. The Obamas paid federal taxes of $1.4 million and donated $240,370 to charity.
Their salaried income was $260,735, which included his $157,102 salary as a senator from Illinois, and hers of $103,633 as vice president of community and external affairs at the University of Chicago Medical Center.
For 2006, the Obamas reported income of $991,296, and paid $277,431 in federal taxes - an overpayment of $40,856, which they designated for estimated tax payments this year.
Among their charitable donations in 2007 was $26,270 to Trinity United Church of Christ, where the incendiary sermons of Obama's former pastor have created problems for the candidate.
The Obamas' largest charitable donation was $50,000 to the United Negro College Fund. They also gave $35,000 to CARE.
The campaign released the returns hours before the debate with Sen. Hillary Rodham Clinton at the National Constitution Center.
Clinton and her husband, the former president, reported $20.4 million in income for 2007. Almost half their money came from Bill Clinton's speeches. The couple have made nearly $109 million since leaving the White House in 2001.
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