President and Mrs. Reagan's joint tax return for 1982 shows that they had an income of $741,253 last year, on which they paid $292,616 in federal income taxes.

This puts the Reagans in the top .02 of the top 1 percent of the nation's taxpayers, according to the Internal Revenue Service.

The Reagans, who listed their professions as "U.S. President" and "First Lady" on their return, wrote a $124,582 check for the balance due and mailed it with their tax forms on Thursday, according to Larry Speakes, a White House spokesman. The White House released the tax documents yesterday.

During 1982, the Reagans had $68,034 withheld and made estimated tax payments of $100,000.

The Reagans' income in 1982 was nearly twice the $418,826 income they reported in 1981. The largest single source of income they reported in 1982 was a capital gain of $256,978, largely from the sale of their California home for $1,000,100. The president and his wife reported $247,061 in interest, including $157,994 from a blind trust, and $4,910 in dividends from the same blind trust.

The president's salary was $200,000. In addition, the former actors received $38 from Columbia Pictures, $450 from Mike Douglas Productions and $432 from Merv Griffin Productions. Nancy Reagan was paid a $3,015 advance on her book "To Love a Child."

The Reagans also reported pension income of $24,769 in 1982 and $3,600 in rent from the federal government for putting an air navigation station on their California ranch.

Although the president is eligible at age 72 to receive Social Security benefits, he did not apply for the payments. A spokesman said the president's White House counsel, Fred F. Fielding, is reviewing the Social Security eligibility to see if the money can be contributed to a private group called "The Fund to Retire the National Debt."

The Reagans bought their Pacific Palisades home in 1955 and sold it last year for $1,000,100, taking advantage of a one-time tax exemption that permits owners over age 55 to subtract up to $125,000 from the selling price. Even with that exemption, they paid taxes on a capital gain of about $250,000 on the transaction.

Among their itemized deductions, the Reagans claimed $49,187 in state and local income taxes, $36,172 in legal fees, $150 for medical and dental insurance premiums and $78 in union and professional dues.

President Reagan, who has promoted voluntary charity as a substitute for many government welfare programs, gave about $15,563, or 2 percent of his income, to charity.

Last year the president said that throughout his life he has followed the tradition of "tithing," or giving a tenth of his income to charity, and had made some charitable contributions that were not tax deductible.

He promised then to make some public contributions this year, but among the contributions he claimed only two were itemized: $5,000 to Eureka College, Reagan's alma mater in Illinois, and a wrought iron table and four chairs, valued at $600, that were given to The Colleagues, a Los Angeles charity.

At a news conference last January Reagan said his "conscience is clear" on the amount he gives to charity, but added, "Some have noticed that there seems to be a small percentage of deductions for worthwhile causes and that is true. And I'm afraid it will be true this year because I haven't changed my habits."

This year's tax returns showed that the Reagans paid $3,887 in interest to three insurance companies, indicating that the president at one time had borrowed against his life insurance polices.

In addition to his blind trust interests, Reagan earned income from certificates of deposit or mutual funds with Penn Mutual Life Insurance and Massachusetts Mutual Life Insurance and he has U.S. treasury bills worth $11,426.

Although they are interested participants in the political process, the Reagans checked "No" in the box that asks if the taxpayers want $1 each to go to the presidential election campaign fund.

The Reagans were audited in 1980, and in 1981 they paid more than $20,000 in back taxes and interest to the federal government and California after the IRS disallowed claims on earlier returns for business losses on their Santa Barbara ranch.