Presidential candidate Mitt Romney released his tax returns for 2010 and 2011 (in progress) late Monday night.  By noon Tuesday, it was front page news on just about every media source.  The Washington Post offers clear copies of the Romneys' filed 2010 tax return and unfinished 2011 tax return, accompanied by explanations from Washington Post writer Jia Lynn Yang.  See links below. For 2010, Romney had an effective tax rate 13.9% - lower than President Obama's 26% and Newt Gingrich's 31.6% rates.  The 2010 return offers a glimpse at just how much Mitt Romney brought in, how he earned it, and what charitable donations he made.  The following annotations pertain to the 2010 return. Wages and salaries. -  NONE None of Romney's income in 2010 came from wages or salaries, the primary source of income for most Americans. Business income. - 593,996 Romney discloses further down in his return that his business income comes from his "author/speaking fees". For more go to page 9. Income from capital gains. - 12,573,249 The bulk of Romney's income came from capital gains, which are profits from the sale of stocks, bonds and real estate. Total income. - 21,661,344 Adjusted gross income. - 23,646,07 Total income minus some deductions. Alternative minimum tax. - 232,989 Romney paid the AMT. Total tax. - 3,009,766 Romney paid an effective tax rate of 13.9%. Charitable giving. - 2,983,974 Over 2010 and 2011, Romney and his wife gave away $7 million in charitable contributions, including at least $4.1 million to The Church of Jesus Christ of Latter-day Saints. More details are disclosed on page 140. Foreign accounts and trusts. - Switzerland Romney had a Swiss bank account that his trustee, Brad Malt, said was closed in early 2010. He also said that it was fully legal and fully disclosed. Author/speaking fees. - Romney came under fire last week for saying that his speaking fees were not very much. According to his personal financial disclosure released last August, Romney spoke in 2010 for several groups, including Clark Consulting, Goldentree Asset Management and HP Healthcare Services. Romney's profit was almost half a million from author/speaking fees. Director's fees. - Until January 2011, Romney sat on the board of Marriott International, based in Bethesda, Md. He had served on the board for 10 years until he stepped down to run for governor in 2002. He joined the board again in January 2009. The Marriott connection is not shown on this page, but appears later in the filing on page 144. Solamere Capital. - Solamere Capital is the investment firm that was founded by Romney's son Tagg, the national finance director for Romney's 2008 presidential campaign, Spencer Zwick and a third partner. Long-term capital loss carryover. - 4,844,089 Romney was able to cut his taxable income by $4.8 million because of losses carried over from previous years. Under the tax code, taxpayers who lose can deduct their losses against capital gains. If a taxpayer ends up losing so much that the losses outweigh the gains in a given year, the rest of the losses can be carried to the next year and subtracted for income. Non-U.S. investments. 1,525,982 Romney's gross income from non-U.S. investments. Potential tax shelter disclosure. - In an effort to curb abusive tax shelters, the IRS requires certain filers to submit this 8886 form, called a Reportable Transaction Disclosure, for any transaction that could raise the suspicion of the IRS as an improper tax shelter. A number of these investments are through Goldman Sachs. Filing an 8886 form itself does not mean there was any wrongdoing. The IRS could agree that the tax methods are aggressive but legal -- or it could challenge the taxpayer. Romney might've also been playing it safe. There are heavy penalties for not reporting these transactions. Details on charitable giving. - Not explained. Marriott International board position. - Not explained. 1.  Newspaper story:  [Washington Post, 1/24/12]. 2.  Mitt and Ann Romney's Actual 2010 Form 1040:  [Washington Post, 1/24/12]. 3.  Romneys' Estimated 2011 Form 1040:   [Washington Post, 1/24/12].