His personal returns are still secret, but I found a work-around to his businesses’ tax filings that revealed those financials didn’t always match what he told a lender.
Here’s how I did it.
- 40 Wall Street
- The Trump International Hotel and Tower
- 1290 Avenue of the Americas
- Trump Tower
Tax returns are private -- but when you appeal the city’s property valuation, you have to file a public form with financial info on it.
…..Guess who’s a serial tax appealer?
2. The Trump International Hotel & Tower (TIHT)
I started calling experts. I wondered if I had it wrong – was I misunderstanding?
I learned some inconsistencies are due to different reporting practices. Others are impossible to decipher without more docs.
(I asked 12+ experts – CPAs, tax lawyers, an appraiser, a forensic accountant, finance folks – and none of them could explain them away.)
Those discrepancies included:
- Trump’s ground lease cost for 40 Wall, which on loan filings was $410K lower in 2015 (lower expenses = bigger profit)