Trump doesn’t pay taxes in 2020, reports business loss

Donald Trump paid no income taxes during the final year of his presidency as he reported losses from his growing business interests, according to tax data released by a congressional committee.

The filings, released late Tuesday by the Democratic-led House Ways and Means Committee after a years-long battle, show Trump’s earnings and tax obligations His status fluctuated considerably during his four years in the White House.

Trump and his wife, ladyThe documents show they paid some taxes over the course of four years, but were able to minimize their income taxes for several years because income from Trump’s businesses was more than offset by deductions and losses.

The committee questioned the legality of some of those deductions, including a $916 million deduction, and members said Tuesday that the tax returns lacked details. . The panel is expected to release edited versions of his full returns in the coming days.

Trump has refused to make his tax returns public on two occasions for the presidency and campaign, even though all other major party presidential candidates have done so for decades. Reuters


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