Donald Trump has barely paid any taxes during half of his term

Donald Trump has barely paid any taxes during half of his term

little moreOne million taxes paid in four years, but it was not evenly distributed. Former Republican President Donald Trump He paid $750 in 2017, which is one million, in 2018 and 2019, and nothing in 2020, the year his losses widened and he lost the presidential election to a Democrat. Joe Biden.

The figures, released in a parliamentary committee report on Tuesday, show that the 76-year-old billionaire ran a large deficit from 2015 to 2020. But his income rose significantly in 2018 and 2019, prompting further speculation about the size of his fortune while Congress prepares to release its tax returns. The former reality TV star recorded capital gains from asset sales of $22 million in 2018 and $9 million the following year.

Trump’s tax returns will be released

But he lost nearly $65 million during his campaign in 2015 and 2016 and about $13 million during his first year in office. In 2020, his earnings are in the red of $5 million.

The report also showed that Donald Trump carried off $105 million in net operating losses on his 2015 return, $73 million in 2016, $45 million in 2017 and $23 million in 2018 to reduce tax liabilities. Elected officials voted Tuesday to release the former president’s tax returns, who led a multi-year legal battle to keep them secret.

A separate parliamentary report on the US tax authorities showed that the latter did not do what it was supposed to do for almost the entire term of Donald Trump’s term. According to the text, “the tax authorities opened only one mandatory examination from 2017 to 2020 for returns filed while the former president was in office.”

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