Trump´s businesses lost over $1 billion in 10 years, tax documents show: Report
ABC News,
by
John Ssntucci
&
Mark Osborne
Original Article
Posted By: drive,
5/8/2019 8:37:00 AM
President Donald Trump is still fighting Congress over the release of his tax returns, but a new report on Tuesday analyzing his official Internal Revenue Service tax transcripts, with the figures from his federal tax forms, shows he lost over $1 billion from 1985 to 1994. he documents show Trump´s businesses lost $1.17 billion over the 10 years, including $46.1 million in 1985 and hundreds of millions by the time of his much-publicized early-1990s financial collapse, according to a report in The New York Times, which acquired the tax documents.
Reply 1 - Posted by:
coyote 5/8/2019 8:43:35 AM (No. 81547)
Like the release of sealed divorce records of an opponent of Obama, once again a crime has been committed deep in the bowels of the bureaucracy.
31 people like this.
Reply 2 - Posted by:
Kitty Myers 5/8/2019 8:45:06 AM (No. 81555)
It´s old news. Even Trump has talked about this. All this does it give us MORE reason to hate the Left & MSM.
44 people like this.
Reply 3 - Posted by:
NancyD 5/8/2019 8:47:44 AM (No. 81521)
Liberal news outlets just cannot hide their pure hatred for Trump.
They´ve tried everything they can possible think of and it proves that they are truly a pathetic group of unhinged losers who allow hatred to run their lives.
I couldn´t live their pathetic life for one day.
20 people like this.
Sounds like he had good accountants. Buildings are supposed to lose money (from a tax perspective) while really gaining in value.
That’s why it’s a “tax shelter”.
29 people like this.
Reply 5 - Posted by:
FunOne 5/8/2019 8:52:08 AM (No. 81523)
Donald Trump has lost a lot of money, and earned a lot of money in his private business life.
What the American patriot should be insisting on is to see the tax records of those in Congress making themselves millionaires during their government employment life.
90 people like this.
I heard Trump talk about this over 20 years ago on Oprah... This isn´t news... It´s yellow journalism at its finest.
23 people like this.
Reply 7 - Posted by:
watlines 5/8/2019 8:57:23 AM (No. 81556)
Ten years of squeaky clean tax returns, according to the IRS, or he would have been outed and destroyed before he came down the elevator.
Be patient, the indictments of the traitorous criminals are coming soon.
We live in historical times.
49 people like this.
Reply 8 - Posted by:
Krause 5/8/2019 8:59:59 AM (No. 81524)
The democrat media jump all over anything bad about Trump, and blare it far and wide. Obama/DOJ/FBI major corruption? Hardly.
10 people like this.
Reply 9 - Posted by:
cny 5/8/2019 9:01:37 AM (No. 81544)
A thousand thumbs up to Reply 5.
22 people like this.
Reply 10 - Posted by:
Ida Lou Pino 5/8/2019 9:07:23 AM (No. 81543)
Another Fake News lie!
The Slimes did not "acquire" the tax documents! Those documents were "described" to the Slimes by "someone" who had seen them.
Another anonymous third-hand batch of Fake News!
15 people like this.
Reply 11 - Posted by:
Safari Man 5/8/2019 9:11:19 AM (No. 81562)
Dims tell us we are to hate successful people. So are we to respect and admire people who lose money?
10 people like this.
Reply 12 - Posted by:
ByteGuru 5/8/2019 9:12:13 AM (No. 81557)
Since the article is from a charter member of the fake news cabal, it is no wonder that the bulk of the comments put on display the total ignorance of the left when it comes to business dealings. #4 touched on the gist of Trump´s financial activities.
What the left willfully ignores is that if DJT was cheating or doing anything illegal, he would be sitting in jail right now courtesy of the IRS, not the Oval office.
7 people like this.
Reply 13 - Posted by:
jinx 5/8/2019 9:21:25 AM (No. 81549)
Can we now see the locked college applications, transcripts, birth certificate, etc. from Obama!
32 people like this.
Reply 14 - Posted by:
kdog 5/8/2019 9:21:40 AM (No. 81519)
Even a basic understanding of depreciation and the effect on taxable income would make this a non story. Think about it, could an organization REALLY lose $1 Billion REAL dollars and survive to file the next year´s tax return?
12 people like this.
Reply 15 - Posted by:
oldmagnolia 5/8/2019 9:27:21 AM (No. 81554)
The NY Slime should be sued to kingdom come and be put out of business. It will be a great day for America when they are gone. Convert the building to a Veterans Home.
9 people like this.
Reply 16 - Posted by:
jar 5/8/2019 9:29:35 AM (No. 81538)
Who didn´t lose money in the Atlantic City casino business? Will be interested to hear what Jerry Nadler has to say in the next news cycle.
7 people like this.
Reply 17 - Posted by:
NancyD 5/8/2019 9:30:47 AM (No. 81539)
We all know Obama used the IRS as his personal attack dog.
If Trump had anything wrong in his tax records, Obama would have released them and say he didn´t know about it until he read it in the newspaper.
12 people like this.
Reply 18 - Posted by:
Rather Read 5/8/2019 9:33:33 AM (No. 81542)
It´s well known that President Trump´s businesses lost a lot of money back then. And he bounced right back. Old news.
7 people like this.
Reply 19 - Posted by:
canadiandruid 5/8/2019 9:34:39 AM (No. 81532)
i dont trust anything antisemites say or print
3 people like this.
Reply 20 - Posted by:
winnie1 5/8/2019 9:39:20 AM (No. 81537)
This is old news. The media released this now to make Trump look bad as China and the USA do talks about trade.
7 people like this.
Reply 21 - Posted by:
jacksin5 5/8/2019 9:42:39 AM (No. 81530)
It´s like the Stock Market. it all depends on how long you stay in. Comparing short-term losses instead of long-term gains is a fool´s game.
9 people like this.
Reply 22 - Posted by:
Heil Liberals 5/8/2019 9:43:02 AM (No. 81526)
This is old, old news. It is no secret that the President had financial losses during that time.
Much ado about nothing.
6 people like this.
Reply 23 - Posted by:
Rinktum 5/8/2019 9:50:41 AM (No. 81545)
All the deranged democrats and media have is innuendo and they will spread it wide and far. It will be a gabfest on al, the news channels. The pearl clutching self-righteous fools will be vying to see who will best frame Donald Trump has a tax cheat businessman who used the IRS for personal gain. Anyone with an ounce of common sense sees right through their perfidious antics.
7 people like this.
Reply 24 - Posted by:
Marjbaldwin 5/8/2019 9:54:33 AM (No. 81528)
I remember when the Enemedia was desperately trying to get hold of Lightworker´s original birth certificate so they could release it and the public could finally see why Lightworker was so desperately keeping it hidden...
No, I can´t remember that.
8 people like this.
Reply 25 - Posted by:
Chuzzles 5/8/2019 10:16:38 AM (No. 81536)
A crime is a crime, no matter who commits it. The NYT just might not slide out from under this one. As to it being old news, so what? If they are going after successful private citizens like this, anybody is fair game now. I mean ANYONE.
Our system of justice is being attacked by both Mueller/the media and now congress with their complete willingness to ignore laws which THEY wrote when they were in control. I truly hope that Trump embarrasses them beyond mere head explosions.
7 people like this.
Reply 26 - Posted by:
bighambone 5/8/2019 10:24:27 AM (No. 81561)
So what does all that old Trump business related news from long ago have to do with the job that Trump has been doing as President since he was elected?
4 people like this.
Reply 27 - Posted by:
caddyjak 5/8/2019 10:31:14 AM (No. 81541)
Anyway, Pres Trump had enough left over to spend 200K in a Palm Beach court so that blacks could enter any public facility there. Bet you will never see that on CNN..
5 people like this.
In other words, he took a disaster and then made it great again.
Sound familiar?
6 people like this.
Reply 29 - Posted by:
Muguy 5/8/2019 10:47:56 AM (No. 81525)
This sort of thing just goes to show you HOW MUCH the libs HATE President Trump, and it is a WARNING to all who would DARE to attempt to go against the AGENDA of the socialist anarchists.
They will spend unlimited effort to ruin ANYONE who will stand against them.
There is no privacy if it suits the opposition, they will no longer protect attorney/client privilege, doctor/patient privilege, ´dox´ politicians they disagree with, and create FAKE stories full of manufacture innuendo based on NO FACTS.
Rather than stay on topic Mueller went after those associated with the President to find OLD things rather than look ONLY AT undue outside inflence in the 2016 election.
Now we find out what WE HAVE KNOWN from the beginning--the whole thing was Nobama/Hitlery misue of government agencies TO AFFECT the election from government.
For that matter, Lee Harvey Oswald´s tax records are STILL kept from the public--when will someone LEAK that information?
3 people like this.
Reply 30 - Posted by:
bpl40 5/8/2019 10:51:45 AM (No. 81551)
He was handed an exactly similar challenge by the one man wrecking crew he succeeded. Once again. look what he is achieving.
1 person likes this.
Reply 31 - Posted by:
LadyVet 5/8/2019 10:54:48 AM (No. 81552)
This "loss from businesses" sounds like a way to slant the news. Is that AGI, Schedule C, or Schedule E?
Were those losses offset by capital gains? How were Form 4797 gains treated? I doubt that NYT or ABC news reporters have enough understanding of business to know that these details matter. Do they even know the difference between cash flow and tax income?
3 people like this.
Reply 32 - Posted by:
ginadee 5/8/2019 10:56:33 AM (No. 81529)
I cannot comment on this article because like ABC News, I lack the knowledge, ins and outs and highs and lows of high finance.
1 person likes this.
Reply 33 - Posted by:
earlybird 5/8/2019 11:14:37 AM (No. 81520)
The clickbait headline doesn’t say which ten years. Must read the article for that ancient history.
1 person likes this.
Reply 34 - Posted by:
earlybird 5/8/2019 11:16:08 AM (No. 81540)
Hillary had one good line for this stuff: “Does it really matter?"
2 people like this.
Reply 35 - Posted by:
john56 5/8/2019 11:20:32 AM (No. 81550)
Yeah, old news.
I remember the joke about Trump about that time. He was going to write a new book and it was going to start with Chapter 11.
Having lost a few bucks in a business about 10 years ago, I can relate to hard times. I´d like to think we´ve rebounded. I know I´m paying taxes (too much) again.
1 person likes this.
Reply 36 - Posted by:
Nimby 5/8/2019 11:22:08 AM (No. 81559)
So? He is poor. Stop hassling the poor POTUS
3 people like this.
Reply 37 - Posted by:
pensom2 5/8/2019 12:01:44 PM (No. 81558)
Yet again, I stand in awe of President Trump´s resilience and determination in the face of never-ending attacks from the Left and its media enablers.
He continues his mission to make America great.
We´re blessed to have this Samson at the helm, no matter how flawed he may previously have been in less relevant aspects of his personal life.
1 person likes this.
Reply 38 - Posted by:
DVC 5/8/2019 12:43:49 PM (No. 81546)
Uh, OK, IF this is even true.... SO WHAT? It was a very long time ago, and NYC economy was in the sewer then, and Ed Koch (another Dem) was the mayor.
1 person likes this.
Reply 39 - Posted by:
kono 5/8/2019 12:44:27 PM (No. 81548)
Didn´t Amazon lose about a billion in its first 5 or 6 years after going public? How long was it before it actually turned a profit? The enemedia sure won´t mention that, especially in this context.
1 person likes this.
Reply 40 - Posted by:
Cog 5/8/2019 12:49:13 PM (No. 81533)
While our undaunted President was earning a
Ph. D in the school of hard knocks, these smarmy politicians were learning smear and corruption tactics. Trump´s real world experience is just what America needed, and he stepped up just in the knick of time. These smear merchants are going to be brought down by their own tactics. And I´m going to laugh and cheer!
1 person likes this.
Reply 41 - Posted by:
judy 5/8/2019 1:14:38 PM (No. 81535)
GM, Amazon, Delta , Chevron & others paid zero income tax last year.ABC....report on that!!!
0 people like this.
Reply 42 - Posted by:
rochow 5/8/2019 1:27:19 PM (No. 81560)
How come this rag ´acquired´ these documents??? Why is it that the most common documents about the Chicago punk were never
´acquired´?? Still waiting for the birth certificate, no, not the one written with 5 different typewriters, the original one, his school grades, etc.
0 people like this.
Reply 43 - Posted by:
DVC 5/8/2019 2:13:00 PM (No. 81522)
https://donsurber.blogspot.com/2019/05/lawyer-trumps-mueller.html
And a two year, adversarial, even criminal, Gestapo investigation to prove it.
0 people like this.
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Old news from the NY Times.