Operating losses are effectively a tax asset owner by the taxpayer that is either used to apply to prior years to get refunds, or applied to future years to effectively pay for the taxes owed from profits made in those years until that operating loss asset is used up.
In other words, for any years Trump owed taxes, he DID pay his taxes, he just paid with an asset other than cash - or to put it another way, he paid using IRS cash he effectively overpaid them in prior years because at that time he was unable to offset those business risk profits he with related,subsequent business risk losses.
Enemy of the people.
Same time frame, right?
Probably one of his hundreds of accountants or tax lawyers who prepared them and hate him.
“from an individual who had legal access to them....”
He/she had legal access, but no authority or permission to release.
That person needs to be prosecuted, fired and locked up.
wouldn’t be nice to make enough to ‘lose a billion’ and still end up a multi-billionaire with millionaire children? seriously. who can do that? not many, that’s for sure.
I don’t understand all of those fancy high-falutan terms. All I know is that TRUMP DIDN’T PAY HIS TAXES! It’s in all the news!
Hmm - the news and public schools - both have to reach to the lowest common denominator!
............... YUP ............. Just in time for when Trump is in Tough Negotiations with China ..... Beginning to see a trend here ...
So they never got the actual tax forms, just more docs from anonymous sources. We’ll see if any of this is more accurate than the lies they “got” from past anonymous sources.
Not surprisingly they chose a period where Trump had suffered some business reverses and had made some decisions which turned out to be bad, i.e. casinos, airlines, football teams. How many businessmen can come back from a period like that to build the kind of portfolio he has today?
After a tiny bit of research... I find an article published in “The New York Times” from Oct. 1, 2016
https://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html
The article basically says the same thing then as this BRAND NEW BOMBSHELL STORY about trump’s taxes. In 2016 the TIMES published... “Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.” So... the TIMES already published this story almost three years ago.
As mentioned before, Trump also disclosed this information in a book he wrote in 1995... but even better! In 2008 he used the loss as a talking point in the opening scene of his reality television show, The Apprentice! “It wasn’t always so easy, about 13 years ago, I was seriously in trouble. I was billions of dollars in debt. But I fought back, and I won big league.”
“Now Liberals will learn”
Unfortunately Liberals will not learn. Facts are abhorrent to them, “feelings” are what matter. It is impossible to have fact based discourse with Liberals.
Breaking! The NYT has discovered information that corroborates information previously only found in a bestselling book authored by the man himself.
I’ll bet when Donald Trump sat down and wrote the tax code back in the 70’s he knew that he would be able to take advantage of many of the loopholes he put in there.
Wait, it wasn’t Donald who wrote tax code?
NorDUH O’Donnell on CBS This Morning, the lowest rated morNing show, said the numbers Trump claimed for lawful write offs were SHOCKING TO HER. insinuating HE DID SOMETHING WRONG - SHEESH, NO WONDER THEY ARE THE LOSWEST RATED, THEY CAN’T SPEAK THE TRUTH.
Yet another Nothingburger.
And if there is a POS at the IRS releasing this, they must go to prison.