Trump has paid no federal income taxes for much of the past two decades
Records Obtained by The Times After Years of Secrecy
- “The Times has obtained tax-return data for President Trump extending over more than two decades. It tells a story fundamentally different from the one he’s sold to the public – revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.
- Mr. Trump’s finances are under stress, beset by hundreds of millions in debt coming due and an I.R.S. audit that could cost him over $100 million.
- He paid $750 in federal income taxes in 2016, and nothing at all in 10 of the previous 15 years — largely because he lost so much money.
- The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow. Together with related financial documents and legal filings, the records offer the most detailed look yet inside the president’s business empire. They reveal the hollowness, but also the wizardry, behind the self-made-billionaire image — honed through his star turn on “The Apprentice” — that helped propel him to the White House and that still undergirds the loyalty of many in his base…”
- See also 18 Revelations From a Trove of Trump Tax Records – “Times reporters have obtained decades of tax information the president has hidden from public view. Here are some of the key findings…It is important to remember that the returns are not an unvarnished look at Mr. Trump’s business activity. They are instead his own portrayal of his companies, compiled for the I.R.S. But they do offer the most detailed picture yet available…”
- See also An Editor’s Note on the Trump Tax Investigation – The New York Times has examined decades of President Trump’s financial records, assembling the most comprehensive picture yet of his business dealings.
- See also Charting an Empire: A Timeline of Trump’s Finances