Trump Defends $1.17 Billion in Losses as Just for ‘Tax Purposes’

“Yet even as he tried to explain in a pair of Twitter posts that showing “losses for tax purposes” was considered a “sport” among real estate developers like himself, the president also said The Times’s account was “a highly inaccurate Fake News hit job!””

His defense is that he is a tax cheat. He is saying the NY Times story is inaccurate because the times thinks his reported losses are losses and not fraud.

From: nytimes.com https://www.nytimes.com/2019/05/08/us/politics/trump-tax-investigation.html#click=https://t.co/DNWG0W4J6f

Billion in losses or a decade of felony tax fraud?

“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.”

From: nytimes.com

I’m not a lawyer and do not have any special information here but one thing to keep in mind, a billion in declared losses may not be a billion in actual losses. He may be overstating or just inventing losses as a way to conceal profits. That would be tax fraud. And a 30 year history of felony tax fraud seems like a really good reason to block anyone from being able to look at his taxes. If they should become public, it would open him up possible fines and penalties, perhaps exceeding his ability to pay.

https://www.nytimes.com/interactive/2019/05/07/us/politics/donald-trump-taxes.html