Trump tax returns reveal over $1Bln in losses - Reports
Washington, May 8 (Sputnik/UNI) US President Donald Trump reported losses totaling more than $1 billion on federal tax returns filed from 1985 to 1994 back when he was a real estate magnate, media reported.
Trump reported losses in core businesses including casinos, hotels and retail space in apartment buildings, the New York Times said on Tuesday citing official Internal Revenue Service (IRS) tax transcripts that were obtained.
Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years, the report added.
The president’s lawyer, Charles Harder, told the Times that IRS transcripts before the days of electronic filing are notoriously inaccurate and would not be able to provide a reasonable picture of any taxpayer’s return.
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