Trump Taxes Show Over $1 Billion in Losses

Ten years of tax information obtained by the New York Times “paints a different, and far bleaker, picture of President Trump’s deal-making abilities and financial condition” than was previously known.

“The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.”

“The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.”

“In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer.”

New York Times: 5 takeaways from 10 years of Trump’s tax figures.