Trump tax info reportedly shows years of massive losses
Tax information obtained by The New York Times shows that from 1985 to 1994, President Trump's core businesses lost $1.17 billion — so much that he did not have to pay income taxes for eight of the 10 years.
Based on the IRS's annual sampling of high-income earners, the Times reports, "year after year," Trump "appears to have lost more money than nearly any other individual American taxpayer," and his core business losses in 1990 and 1991 "were more than double those of the nearest taxpayers in the IRS information for those years."
Trump responded in a tweet Wednesday, saying that the "old information" was "very inaccurate" but real estate developers "always wanted to show losses for tax purposes" in the 1980s and '90s, adding, "it was sport."
Source: The New York Times
.
Tax information obtained by The New York Times shows that from 1985 to 1994, President Trump's core businesses lost $1.17 billion — so much that he did not have to pay income taxes for eight of the 10 years.
Based on the IRS's annual sampling of high-income earners, the Times reports, "year after year," Trump "appears to have lost more money than nearly any other individual American taxpayer," and his core business losses in 1990 and 1991 "were more than double those of the nearest taxpayers in the IRS information for those years."
Trump responded in a tweet Wednesday, saying that the "old information" was "very inaccurate" but real estate developers "always wanted to show losses for tax purposes" in the 1980s and '90s, adding, "it was sport."
Source: The New York Times
.