NYT acquires 1995 Trump tax return; he deducted $916 million in business losses

[ProudModerate2]

How the f*** do you accrue $915 million in losses???

Simple.  Be in the real estate business during the late 80s/early 90s, when real estate values cratered.  Sell a building or two for a loss to raise cash to cover losses in your casino and airline businesses.  Presto - you have an operating loss in the casino and airline businesses, and a loss on the buildings to carry forward.

By the way, I don't think Trump incurred most of this loss in 1995.  The bulk of it was likely a net operating loss carryforward from prior years.

Yes.
Knowing a thing or two about taxes you are probably correct this is a NOL Carryforward, but it still looks bad in the eyes of the general public.
The amount is so large (almost 1 Billion dollars !), and yet someone who lives in penthouses and has jets, doesn't pay federal income taxes.
That is what "normal people" see and it leaves a horrible impression for a presidential candidate.

[Fargobison]

https://twitter.com/realDonaldTrump/status/172772609627394049

[Sprouts Farmers Market ✘]

Well, Atlas just shows how much stupider it is than Trump for the umpteenth time this year. What an embarrassment of a thread.

[cinyc]

If the losses are real, it is legitimate to deduct the loss. End of story. The income tax is about taxing income.

It shows you he's a terrible businessman. A $916 million business loss in that era is staggering. Remember that inflation occurred in the last 20-25 years

Given what happened to the commercial real estate market in the late 80s and early 90s, a large loss for a real estate developer in that era isn't all that staggering.

But this was 1995.

Most of the losses were likely incurred before 1995.  They likely appear on the line as (negative) other income because it was a net operating loss from a prior year.  That line is where you report net operating losses, according to the to the 1995 Form 1040, which I looked up online (I assume what is reported on the line on the NY form the NYT linked is similar to the federal line - as it usually is).  We don't know for sure without seeing the schedules, but little else makes sense.

[ProudModerate2]

https://twitter.com/realDonaldTrump/status/172772609627394049

A great deal of those who pay no income taxes are the extreme poor !
Many of these people fall below the poverty level, and their standard deduction, personal deduction and deduction for their children, allow them to not owe federal taxes. They are barely scrapping-by on living.
So of course there are many who don't pay taxes.
But they don't also have top-story penthouses, with gold trim chairs, and a personal full-size jet to fly around.
Big Difference ! !
Good Lord .... the trump campaign are idiots for putting out responses like this.
What do they think ? ..... that the rest of us are as stupid as their poorly educated supporters ?
This is basic tax accounting knowledge/information.
Geeesh !

[Fmr President & Senator Polnut]

Well, Atlas just shows how much stupider it is than Trump for the umpteenth time this year. What an embarrassment of a thread.

You really need to stop this act. It's not cute, it's not clever...

[Fargobison]

So much gold in Donnie's twitter archives...



https://twitter.com/realDonaldTrump/status/317227284996186112

[PollsDontLie]

So much gold in Donnie's twitter archives...



https://twitter.com/realDonaldTrump/status/317227284996186112

That's probably still true when you account for property, sales, and state income taxes.

[ProudModerate2]

You must be logged in to read this quote.

[ProgressiveCanadian]

Well, Atlas just shows how much stupider it is than Trump for the umpteenth time this year. What an embarrassment of a thread.

You really need to stop this act. It's not cute, it's not clever...

This. Anyone still defending this piece of sh**t should be ashamed of themselves.

[Absentee Voting Ghost of Ruin]

So much gold in Donnie's twitter archives...



https://twitter.com/realDonaldTrump/status/317227284996186112

That's probably still true when you account for property, sales, and state income taxes.

Which won't matter if the meme of Trump the Tax-cheat gets momentum.

Spending the next 4 weeks using his unreleased tax returns to explain how he technically didn't cheat will murder even his zombie campaign.

[Dr. Arch]

So much gold in Donnie's twitter archives...



https://twitter.com/realDonaldTrump/status/317227284996186112

That's probably still true when you account for property, sales, and state income taxes.

Which won't matter if the meme of Trump the Tax-cheat gets momentum.

Spending the next 4 weeks using his unreleased tax returns to explain how he technically didn't cheat will murder even his zombie campaign.

This was a great double whammy that came down at the right time.

-Trump has been flaunting that he "forced" Obama to release his birth certificate. This is part of his "power" persona that appeals to a lot of his authoritarian fanbase.

-HRC brought up the questionable dealings his tax returns could be hiding at the end of the last debate.

-These new findings come up, adding credibility to HRC's questions and making the public doubt him further beyond all the mess he was already in due to his massive failure to perform.

-Trump is now forced to either:

a) Release his full returns to attempt to dispel the meltdown, which concedes the "power" persona to HRC as she "forced" him to release his returns in the same way he "forced" Obama to release his certificate OR

b) Keep going with it while making the big mistake of bringing out the infidelity card, still refusing to release any of his returns, potentially sending whatever was left of his campaign into a death spiral.

He thought he was playing 2-D chess and was now put into Check from above.

[Antonio the Sixth]

Let the endless sh*tstorm continue!

[Dr. Arch]

Right as I wrote my message above. Called it:

[Fargobison]

Right as I wrote my message above. Called it:

Wow that is a high energy statement. HRC's team is on point tonight.

[ProudModerate2]

So much gold in Donnie's twitter archives...



https://twitter.com/realDonaldTrump/status/317227284996186112

How in the world does the trump campaign think that this is going to look good on their part ? !
Are they insane over there ?
What are they smoking tonight ?

[Wells]

So much gold in Donnie's twitter archives...



https://twitter.com/realDonaldTrump/status/317227284996186112

How in the world does the trump campaign think that this is going to look good on their part ? !
Are they insane over there ?
What are they smoking tonight ?

Cocaine. Obviously.

[ProudModerate2]

Right as I wrote my message above. Called it:

Wow that is a high energy statement. HRC's team is on point tonight.

That is an excellent response !
Perfect !

[Panda Express]

Right as I wrote my message above. Called it:

ffs robby mook it's "the jig is up" not "the gig is up"

[Fmr President & Senator Polnut]

Right as I wrote my message above. Called it:

ffs robby mook it's "the jig is up" not "the gig is up"

I'm glad I'm not the only pedant ...

[OneJ]

1. Debate performance
2. His bizarre tweet storm at 3am
3. Infidelity accusation
4. This

If you still support Trump, I have no empathy for you whatsoever. You can't explain all of that and his history. A decent person just can't.

A racist, narcissistic, pathological lying, sexist, secretly mentally disturbed, cheating, idiotic bastard like Trump should never hold office. Simple as that.

This man NEVER tells it likes it is. He doesn't care about us.

No matter what demographic of Trump supporter you are, you need to admit that you are deplorable.

[Sprouts Farmers Market ✘]

Well, Atlas just shows how much stupider it is than Trump for the umpteenth time this year. What an embarrassment of a thread.

You really need to stop this act. It's not cute, it's not clever...

I don't really understand what you are talking about as I have stated probably 150 times, I am a Donald Trump fan who has voted to him, donated for him and tried to volunteer for him (but that hasn't worked out on account of my recent schedule). There is nothing to be cute or clever about. He is the only qualified candidate.

[Dr. Arch]

Well, Atlas just shows how much stupider it is than Trump for the umpteenth time this year. What an embarrassment of a thread.

You really need to stop this act. It's not cute, it's not clever...

I don't really understand what you are talking about as I have stated probably 150 times, I am a Donald Trump fan who has voted for him, donated for him and tried to volunteer for him (but that hasn't worked out). There is nothing to be cute or clever about. He is the only qualified candidate.

I almost spit my water out.

[Devout Centrist]

Well, Atlas just shows how much stupider it is than Trump for the umpteenth time this year. What an embarrassment of a thread.

You really need to stop this act. It's not cute, it's not clever...

I don't really understand what you are talking about as I have stated probably 150 times, I am a Donald Trump fan who has voted to him, donated for him and tried to volunteer for him (but that hasn't worked out on account of my recent schedule). There is nothing to be cute or clever about. He is the only qualified candidate.

What a total joke.

[rafta_rafta]

Well, Atlas just shows how much stupider it is than Trump for the umpteenth time this year. What an embarrassment of a thread.

You really need to stop this act. It's not cute, it's not clever...

I don't really understand what you are talking about as I have stated probably 150 times, I am a Donald Trump fan who has voted to him, donated for him and tried to volunteer for him (but that hasn't worked out on account of my recent schedule). There is nothing to be cute or clever about. He is the only qualified candidate.