The United States Law Week

Trump Says $1.17 Billion Losses Were ‘Sport,’ Sound Tax Policy

May 8, 2019, 12:46 PM

President Donald Trump defended his real estate business tax strategy following a New York Times investigation that showed he reported losses of $1.17 billion between 1985 and 1994.

“You always wanted to show losses for tax purposes,” Trump tweeted May 8. “Almost all real estate developers did - and often re-negotiate with banks, it was sport.“

The president was responding to a New York Times report indicating that his businesses generated $1.17 billion losses between 1985 and 1994. His hotel and casino properties were eligible for large depreciation write-offs that meant he paid taxes for only two years during that...

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