Friday 09 / May / 2025
New York: A New York Times exposé that looked into US President Donald Trump's taxes showed he lost $1.17 billion over a decade starting in the mid-1980s.
Trump's apparent losses are greater than nearly any other individual American taxpayer, so much so that he managed to avoid paying income taxes for eight of the 10 years.
Trump's federal tax forms from 1985 show he reported $46.1 million in losses from his main businesses, which consisted mainly of casinos, hotels and retail spaces in apartment buildings.
Over the course of the next 10 years, they continued to lose money, with losses totalling $1.17 billion by 1994, the Times said.
The report came a day after Treasury Secretary Steven Mnuchin denied Democratic lawmakers' request for Trump's tax returns, saying it "lacks a legitimate purpose," raised constitutional questions and threatened taxpayer privacy.
