Donald Trump’s Hotels And Casinos Lose $1.17Billion
he figures, which date from 1985 to 1994, reveal that the future president lost $1.17billion in 10 years.
In the span of nearly a decade, Donald Trump lost more money than nearly any other individual American taxpayer, a new report has claimed.
Ten years of Trump’s official Internal Revenue Service tax transcriptions, obtained by the New York Times, make shocking reading.
The figures, which date from 1985 to 1994, reveal that the future president lost $1.17billion in 10 years.
Every year from 1985 through 1994, Trump reported a negative adjusted gross income – an individual’s total gross income minus specific deductions – on his tax returns.
In fact, Trump lost so much money that he didn’t have to pay income taxes for eight of the 10 years, according to the Times.
They continued to lose money every year, even as Trump published his now famous memoir and business-advice book The Art of the Deal.
The Times compared Trump’s tax transcripts to a sampling of high-income earners that are compiled every year by the IRS.
It found that Trump’s core businesses lost more than $250million in 1990 and 1991, a figure more than double that of the nearest taxpayers in the IRS’ sampling.
The Times report offers a rare glimpse into a tax history that Trump has fought desperately hard to keep out of the public eye.