Reagans Pay $86,638 in Tax on $345,359

President and Mrs. Reagan released tax returns today showing they paid $86,638 in federal income taxes last year on adjusted gross income of $345,359.

Documents released by the White House as the Reagans vacationed at their mountaintop ranch showed the first couple paid $5,822 less in taxes on $8,719 in additional income over 1986.

In addition, the Reagans were due a $10,754 refund for 1987, which they designated to be applied to their estimated taxes for 1988.

There were few significant departures in their 1987 returns from 1986.

In addition to his $200,000-a-year presidential salary, Reagan reported a slight increase in rental income from air traffic navigation facilities located on his 688-acre ranch and $46,208 in capital gains, which the White House has attributed in part to the sale of drawings inherited by the First Lady.

Deductions Changed

The Tax Reform Act that lowered income tax rates for the Reagans and some other Americans also took away many long-time deductions used to lower tax bills in the past.

The Reagans claimed $77,792 in deductions for tax payments, personal interest, charitable contributions and other expenses, compared with $108,338 the previous year.

Their $25,407 in contributions included $11,312 to Eureka College, the President’s alma mater, and $214 to the Community Foundation of Greater Washington, which represents the amount Mrs. Reagan received in royalties from reruns of two television shows on which she made guest appearances to promote her campaign against drug abuse.

The Reagans signed their tax return Wednesday after meeting with their lawyer, Roy Miller. It was mailed to the Internal Revenue Service Center in Fresno.