https://www.cnbc.com/2022/12/21/trump-income-tax-returns-detailed-in-new-report-.html The amount of income, deductions and taxes paid by former President Donald Trump as disclosed in his annual federal tax returns while serving in the White House was detailed in a new report. The report by the staff of the Joint Committee on Taxation was posted online shortly after the House Ways and Means Committee voted to make public redacted versions of Trump’s full income tax returns, and those of eight related business entities for the tax years 2015 through 2020. A separate report released by the Ways and Means Committee revealed that the IRS had started an audit of just one of Trump’s tax returns while he was serving as president. The amount of income, deductions and taxes paid by or refunded to former President Donald Trump while serving in the White House was detailed in a new report released Tuesday night. The report reveals that Trump on his federal tax returns declared negative income in 2015, 2016, 2017 and 2020, and that he paid a total of $1,500 in income taxes for the years 2016 and 2017. On their 2020 income tax returns, Trump and his wife Melania paid no federal income taxes and claimed a refund of $5.47 million, according to the report by the staff of the Joint Committee on Taxation. The report was posted online shortly after the Ways and Means Committee voted to make public redacted versions of Trump’s full income tax returns, and those of eight related business entities for the tax years 2015 through 2020. Those full returns are expected to be released in the coming days. The report identifies different areas that the staff thought warranted further examination, such as documentation of nearly $506,000 in charitable donations claimed by the Trumps in 2019. Highlights of the report include: On their 2015 federal return, Trump and his wife declared negative income of $31.7 million, with taxable income of $0. The couple paid federal income taxes of $641,931. The 2016 return declared negative income of $31.2 million, with zero dollars of taxable income. The Trumps paid $750 in taxes. The 2017 return declared negative income $12.8 million, with $0 in taxable income. The couple paid $750 in taxes. The 2018 return declared total income of $24.4 million, with taxable income of $22.9 million. The Trumps paid $999,466 in federal income taxes. In 2019, the Trumps declared $4.44 million in total income, and $2.97 million in taxable income. They paid $133,445 in taxes. The 2020 return shows negative income of $4.69 million, with zero dollars in taxable income. The tax paid by the Trumps was $0 and they claimed a refund of $5.47 million.
I do. Trump ran for president on one big con and continues with a big lie about how he lost the last election. He claimed he can make great deals, he runs successful businesses, makes lots of money, Billionaire. All of this stuff. He just a guy who has been shuffling around his father’s money and going bankrupt every now and again. It was all a con and people deserve the truth. Truth still matters. He lied about releasing his tax returns. He had no intention because it would undermine the mythology built up into a cult around him.
Wait, he got a refund in $5.47M in 2020 when combined he paid less than $2M in taxes since 2015? How the hell does that happen?
Tax loopholes. Probably has to do with appreciation of property values reported which are not taxed or some crazy crap like that. The IRS needs an enema.
The poster above cares about Trump income or lack thereof. Does not care and assiduously avoids and attempt to investigate massive income from China to the current President, while said President was still Vice President.