April 11 (Bloomberg) -- President Barack Obama and his wife, Michelle, reported adjusted gross income of $481,098 for 2013, down 21 percent from last year, according to tax returns released today by the White House.

The Obamas paid $98,169 in federal taxes, including $2,310 imposed by the 2010 Affordable Care Act that he signed. That’s an effective income tax rate of 20.4 percent.

“In 2013, as a result of his policies, the president was subject to limitations in tax preferences, as well as additional Medicare and investment income taxes, for high-income earners,” Press Secretary Jay Carney said in a blog post on the White House website.

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