FACTS FIRST: While depreciation is a completely legal and common way for real estate developers to lower their tax bills, Trump's use of the tax break to justify $1 billion in losses goes well beyond what could be considered normal
Washington A new report from The New York Times reveals that even as he was pitching himself as a wildly successful real estate developer and dealmaker, President Donald Trump's businesses lost more than $1 billion from 1985 to 1994.
Following the report, Trump defended his losses, suggesting in a tweet that it was all part of a"tax shelter" strategy that real estate developers commonly use to lower their taxable income."Real estate developers in the 1980's & 1990's, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases.""You always wanted to show losses for tax purposes....
— Donald J. Trump May 8, 2019 FACTS FIRST: While depreciation is a completely legal and common way for real estate developers to lower their tax bills, Trump's use of the tax break to justify $1 billion in losses goes well beyond what could be considered normal.Over the years, Trump has made no secret of his fondness for using depreciation as a way to lower his tax bill.
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