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In reply to the discussion: BREAKING: Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses [View all]dalton99a
(81,526 posts)87. "Trump appears to have lost more money than nearly any other individual American taxpayer"
The data printouts from Mr. Trumps 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 presidents 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, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 more than $250 million each year were more than double those of the nearest taxpayers in the I.R.S. information for those years.
Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits.
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, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 more than $250 million each year were more than double those of the nearest taxpayers in the I.R.S. information for those years.
Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits.
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BREAKING: Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses [View all]
lanlady
May 2019
OP
Let's compare those numbers with the ones he handed other banks and insurance companies
htuttle
May 2019
#1
Maybe, but remember he really is the dumbest adult alive, worst businessperson who ever lived
Eliot Rosewater
May 2019
#76
I think we'd be making a mistake to underestimate Tiny..... if nothing else he's a shrewd conman
groundloop
May 2019
#91
That is exactly how his family business was set up by Fred Trump & refined by Don & siblings
Hekate
May 2019
#127
Today Forbes released, online, its 1990 story about removing Trump from the Forbes 400
More_Cowbell
May 2019
#129
The year Art of the Deal came out he lost 4 million dollars. Out of the 10 years that
applegrove
May 2019
#15
By every metric he is a loser of a businessman. He is a master con man and carnival barker.
Pepsidog
May 2019
#49
He lost big money. Remember trump airlines? It went belly up in that time period. That's just one...
brush
May 2019
#50
It's worth using one of your ten free NYT articles just to bask in the pithy writing!
fierywoman
May 2019
#34
1% of all losses individual taxpayers reported to the I.R.S in 1991 came from individual, Trump.
ffr
May 2019
#38
Let us not forget that Trump was very willing to share all of his business acumen
GetRidOfThem
May 2019
#123
Let's consider this just one piece of the legacy of a career liar and criminal and con-artist.
Evolve Dammit
May 2019
#47
I wonder that as well. The corruption is staggering, largely because the odds on getting caught are
Evolve Dammit
May 2019
#133
FBI & CIA both employ forensic accountants as agents/analysts. Just one more reason for ...
Hekate
May 2019
#130
He had income of 52.9 mil in 1991 generated from stocks bonds investments etc
Thekaspervote
May 2019
#72
"Trump appears to have lost more money than nearly any other individual American taxpayer"
dalton99a
May 2019
#87
Like every organized crime figure, I am sure he exagerated his losses to scam paying less tax.
sarabelle
May 2019
#108
I'm dying to know HOW the NYT got hold of this. Enquiring minds want to know.
Honeycombe8
May 2019
#113
If the bankers hadn't let him get away with his "sport," we wouldn't be in this mess now.
Vinca
May 2019
#117
But all the conservatives have been telling me for years he's a financial genius?
Blue_Tires
May 2019
#120