“Mr Trump appears to have lost more money than nearly any other individual American taxpayer.”
Newly obtained tax information has revealed that Donald Trump’s businesses were operating at major losses between 1985 and 1994.
A special investigation by the New York Times has unearthed printouts from Trump’s official IRS tax transcripts from that time, reporting a total of $1.17 billion in losses over a 10-year period.
According to the New York Times, Trump did not pay income taxes for eight of those 10 years due to business losses.
“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,” the newspaper notes.
“They continued to lose money every year, totalling $1.17 billion in losses for the decade.
“In fact, year after year, Mr Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners.”
Trump has refused to disclose his tax returns, despite repeated pressure to do so, with opponents citing a conflict of interest in continued ownership of businesses while serving as US President.
He has yet to officially comment on the report.
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