“Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.
He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.”
He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.”
“Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.”
“Public filings offer a distorted picture of his financial state, since they simply report revenue, not profit. In 2018, Mr. Trump announced in his disclosure that he had made at least $434.9 million. The tax records deliver a very different bottom line: $47.4 million in losses.”
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