JUST IN: New York Times reports years of alleged tax avoidance by President Trump, citing decades worth of Trump's tax information. Trump on Sunday said the story was 'totally fake news' and 'made up.'
, reporting Sunday that the president paid only $750 in federal income taxes the year he won the presidency and again during his first year in office.
The Times also reported that Trump has more than $300 million in loans coming due within the next few years that he is personally responsible for repaying.The tax documents cover more than two decades, including some of his time as president, but they do not include his returns from 2018 and 2019. NBC News has not seen or verified any of the documents reported by The Times.
Asked about the report that he paid just $750 in federal income tax in 2016 and again in 2017, Trump said he has"paid a lot of money in state" taxes, although he was not specific about how much. Boosted by a substantial increase in income tied to his celebrity, The Times reported that in the 11 years after"The Apprentice" premiered, the president went on a spending spree unseen since the days before the demise of his finances of the early 1990s. But The Times said the documents revealed that the new ventures and acquisitions contributed to a drag on his bottom line rather than increased it.
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