Smart thinking on Trump’s part.
Sounds more like Trump Sr. needed some liquid money to me.
Not really. There’s a 5 million dollar civil judgment against him. The sale of MAL for way less than it is worth, and to an insider, can be unwound by the NY courts, and MAL can be auctioned off to satisfy the judgment. That’s the law and not my opinion, personally I believe the verdict was bogus and an attempt at election interference
I’m surprised Trump didn’t have the property held in an irrevocable trust. Selling to a corporation is not as good as having it in a trust. Now he has to worry about capital gains taxes.
With all his troubles lately maybe he has enough losses to offset the gain. That would actually be a good way to get the property out of his estate. Only worry he has is if the sales price was less than the fair market value, then creditors could attack the sale as a fraudulent conveyance. They’ll likely try that anyway.
Really? If no money changes hands, it’s a gift or possible fraudulent transaction. I bet the county tax assessor is happy to see the Trumps value the property over 400mill. Guess whose taxes could skyrocket?
Really? Maybe you’re right but if no money changes hands, it’s possibly a taxable gift, otherwise taxable or possible fraudulent transaction. Nevertheless, I bet the county tax assessor is happy to see the Trumps value the property over 400mill. Guess whose taxes could skyrocket?