According to Donald Trump’s 1995 tax records, he declared a $916 million loss on his income tax returns. The documents are now obtained and published by the New York Times. The article indicates that the reported loss can lead to a equivalent amount of taxable income about 18 years, and suggests that there may be more similar tax reports.
Trump refused to comment on the documents. Instead, his campaign released a statement that neither challenged nor confirmed the $916 million loss. “Mr. Trump is a highly-skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required……Mr. Trump knows the tax code far better than anyone who has ever run for President and he is the only one that knows how to fix it.”
By David Barstow, Susanne Craig, Russ Buettner and Megan Twohey, Oct. 1st, 2016 in the NY Times