NEW YORK (AP) — The massive losses Donald Trump claimed on tax returns were reportedly due at least in part to huge deductions he took against income his businesses had before and after he became president. A key question: Were those deductions reported by The New York Times excessive and possibly illegal? They enabled Trump to avoid millions of dollars in taxes. Trump reportedly wrote off millions for expenses on real estate properties he used personally but claimed were businesses. He also deducted millions of dollars in consultants’ fees, including fees paid his daughter Ivanka. It would be up to the IRS to decide whether the deductions are legitimate.
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October 01, 2020 at 06:49PM
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Trump business deductions: sketchy, normal or in-between? - WKOW
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