Trump Tax Returns From 1985 to 1994 Show $1 Billion in Losses: NY Times

Jonathan Ernst/Reuters

U.S. President Donald Trump’s businesses lost a total of more than $1 billion from 1985 to 1994, according to the New York Times, which said it obtained printouts from Trump’s official Internal Revenue Service tax transcripts.

The newspaper said Trump posted losses in excess of $250 million in both 1990 and 1991, which appeared to be more than double any other individual U.S. taxpayer in an annual IRS sampling of high-income earners.

Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years, the Times said.

Over the 10 years, Trump’s core businesses, including casinos, hotels and apartment buildings, lost $1.17 billion, according to the newspaper.

The White House did not immediately respond to a request for comment.

The Times quoted a lawyer for the president, Charles Harder, as saying the tax information was “highly inaccurate.”

Trump, a real estate magnate who turned over the running of his businesses to his sons after his election in 2016, touted his business acumen and negotiating skills on the campaign trail.

Trump broke with a decades-old precedent by refusing to release his tax returns as a presidential candidate in 2016 or since being elected, saying he could not do so while his taxes were being audited.

On Monday, U.S. Treasury Secretary Steven Mnuchin refused a request by the Democratic chairman of the House of Representatives Ways and Means Committee for Trump’s tax returns.

Democrats want Trump’s tax data as part of their investigations of possible conflicts of interest posed by his continued ownership of extensive business interests, even as he serves as president.

(Reporting by Eric Beech; Editing by Rosalba O’Brien)

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David Keller
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What people don’t realize is that showing losses on a tax return does not mean they are real losses. Sure they could be but they could also be a result of depreciating real estate which actually grows in value. Depreciation on real estate is not a real loss. It’s a paper loss that is allowed by regulation from legal deductions. His tax returns are so complicated that it’s far better to keep them private. Any amateur can read them and make incorrect assumptions and report falsely about them.

Minerva Rivera
Member

A law has to be approved to prevent similar situations in the future. Anyone who wants to run for President HAS TO SUBMIT THEIR INCOME TAX. Period.

Rob Carpenter
Member

Also, Dems care nothing about “conflicts of interest” as just about every one of them in congress is involved in conflicts of interest of some sort. All they care about is finding something, anything to try to impeach Trump because they know they will never be able to beat him fair and square in the elections. Nothing to do with “Conflict of interest” and everything to do with getting him in a position he cannot run in 2020. Why in the world do the Repubs not go after the Dems in same fashion.

Rob Carpenter
Member

Why don’t they show the same concern for all the millionaires in congress that make 174K a year. Why don’t they subpeona their tax records to investigate conflicts of interests. Most people other than Democrats don’t care about private citizen / business man tax returns. That doesn’t make a President. what we care about is the Presidents morals, character, values, intelligence, honesty, integrity and common sense. All of which Obama hide and concealed everything that would expose those qualitie

Allen Zabel
Member

What is more concerning., is how Congress persons, can accumulate millions of dollars on the government payroll. Without receiving “kick backs” or “insider trading.” (both illegal)
Remember, Martha Stuart went to prison, for insider trading.

Terry Ford
Member

I don’t understand why this is an issue at all. So what? He is a businessman, all businessmen go through periods where they may lose money or make money. What does that have to do with the kind of president that he is? Nothing whatsoever.

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