Trump May Have Avoided Paying Taxes for Nearly Two Decades

[bullwinkle]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

. Nothing to see here folks, as the op should embolden the word LEGAL in black. If there is a legal loop hole for me to take when doing my taxes, and I didn't take it, then that would make me the ultimate STUPID.

Everyone knows it it not illegal. Just like you know that Clinton has done nothing illegal according to Comey.

 

[Jackson]

The question should be, what tax laws did he break? I used a tax law to my benefit when I lost an incredible amount of money in the Nasdaq bubble. While in the bubble I was making more each month than I made for my annual salary teaching. I was taking in $75,000 a month profit.

But, as my broker explained after the bubble burst, there's the "bull, bear and pig." I was the pig in a bull market and paid dearly when the bubble burst. An accountant was recommended for me and I saw that I could deduct a large amount of my losses that year and subsequently, a smaller amount every year after. Probably for the rest of my life, lol. But my taxes are lower due to that credit.

Did I do anything illegal? No. I used the tax laws to my advantage. Just as you would do.

And, as for making poor decisions, I stayed in those stocks because I believed in America. I just couldn't believe that they would drop to the bottom and not recover. But patriotism wasn't enough. I was committed to long term investments which usually turn out to be profitable. Alas, I, and millions of others, perhaps Trump, got caught in a bad place. Trump is smart enough to continue making billions of dollars...I just was't meant to be rich! C'est Le Vie, lol.

Unlike you, I have never had to learn the tax laws of higher finance. I know nothing of gains and acceptable losses. But I am shocked to learn that Mr. Trump is part of Mr. Romney's 47% that doesn't pay taxes. Who knew he is a welfare queen equivalent.

The shock should be reserved to Congress who makes those tax laws. Just how many of them do you think pay taxes? They have written the laws so THEY could benefit. That's what establishment political whores do. Don't get after someone that uses those laws as well.
By the way, How many jobs do you think Trump has created in his time?
I would think it's time we elect anti-establishment candidates who will work for this country rather than make laws that only they could benefit from.

 

[gipper]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

Only dummies would believe anything reported by a hard left DNC controlled newspaper.

 

[The VOR]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

Only dummies would believe anything reported by a hard left DNC controlled newspaper.

 

[gipper]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

Only dummies would believe anything reported by a hard left DNC controlled newspaper.

 

[Ray From Cleveland]

Holy shit this is fucking hilarious! Trump is such a complete failure of a businessman he loses almost a billion dollars, and then relies on big govt. to help him along by paying zero in taxes. And this is the guy who is going to fix the US? Baahahaha! He is part of the problem you dumb fucks!

Only a Democrat can complain about a citizen following the tax laws to a tee and blame the citizen.

The thing is you have nothing on this guy like we have on Hillary, so you invent wrongdoing that never took place.

Show me one Democrat politician or businessman that didn't take all their deductions because they felt guilty. Show me one that doesn't try to reduce their tax liability as much as possible.

Trump didn't do anything that anybody else in his position didn't do Republican or Democrat.

 

[rightwinger]

Either way it does not look good for Trump

He is running as such a great businessman who managed to lose close to a billion dollars in one year

He has not paid taxes in decades making him one of the 47%...a serial moocher

 

[The VOR]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

Only dummies would believe anything reported by a hard left DNC controlled newspaper.

The story is accurate, verified by the accountant at that time whose signature is on the documents.

But keep crying that it isn't true because you don't like it, you pathetic, partisan hack.

 

[The VOR]

Either way it does not look good for Trump

He is running as such a great businessman who managed to lose close to a billion dollars in one year

He has not paid taxes in decades making him one of the 47%...a serial moocher

But, but, but, but, but Bill got a blowjob!!!

 

[Ray From Cleveland]

It's clear that Trump is too big to fail and that taxes are just for the little people

But I'm sure that Hillary will make a promise now to reform the tax code to make sure these things won't happen anymore (just like she already promised in her speeches to Goldman Sachs)

Maybe you just got off the boat and don't understand our system of government in this country.

Hil-liar can't do squat, because in this country, the President has little power. She can't buy votes with Free College, she can't raise taxes on the wealthy for that free college, and she can't change tax codes. She needs the rest of the federal government to go along with her plans which they will not. So she can't do anything.

 

[jasonnfree]

Holy shit this is fucking hilarious! Trump is such a complete failure of a businessman he loses almost a billion dollars, and then relies on big govt. to help him along by paying zero in taxes. And this is the guy who is going to fix the US? Baahahaha! He is part of the problem you dumb fucks!

Only a Democrat can complain about a citizen following the tax laws to a tee and blame the citizen.

The thing is you have nothing on this guy like we have on Hillary, so you invent wrongdoing that never took place.

Show me one Democrat politician or businessman that didn't take all their deductions because they felt guilty. Show me one that doesn't try to reduce their tax liability as much as possible.

Trump didn't do anything that anybody else in his position didn't do Republican or Democrat.

Also, neither hillary or billary ever ran so much as a lemonade stand business. How'd they get so wealthy? Selling themselves for favors to wall street, banks, and russia, meaning the uranium deal these two traitors negotiated for russia.

 

[Ray From Cleveland]

You know, a few years back, all the banks went under because they took horrible losses. What happened? The government gave them money and bailed them out.

The American people were outraged that our money had been spent to bail out the billionaires who didn't know how to manage their money.

Now? We find out that because Trump sustained nearly a BILLION dollars in losses, he managed to put himself in a position where he didn't have to pay taxes for many years.

Trump is a billionaire who didn't know how to properly manage his money. The government saw his losses and bailed him out by allowing him to not pay taxes for decades.

We were pissed that the banks got a bailout, why is everyone supporting Trump who also has received a bailout?

You don't understand the difference between giving somebody money and not taking somebody's money?

 

[gipper]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

Only dummies would believe anything reported by a hard left DNC controlled newspaper.

The story is accurate, verified by the accountant at that time whose signature is on the documents.

But keep crying that it isn't true because you don't like it, you pathetic, partisan hack.

If the NY Times said Trump is a murderer, you'd believe.

Hahahahahahahahahahahahahah

 

[bullwinkle]

The question should be, what tax laws did he break? I used a tax law to my benefit when I lost an incredible amount of money in the Nasdaq bubble. While in the bubble I was making more each month than I made for my annual salary teaching. I was taking in $75,000 a month profit.

But, as my broker explained after the bubble burst, there's the "bull, bear and pig." I was the pig in a bull market and paid dearly when the bubble burst. An accountant was recommended for me and I saw that I could deduct a large amount of my losses that year and subsequently, a smaller amount every year after. Probably for the rest of my life, lol. But my taxes are lower due to that credit.

Did I do anything illegal? No. I used the tax laws to my advantage. Just as you would do.

And, as for making poor decisions, I stayed in those stocks because I believed in America. I just couldn't believe that they would drop to the bottom and not recover. But patriotism wasn't enough. I was committed to long term investments which usually turn out to be profitable. Alas, I, and millions of others, perhaps Trump, got caught in a bad place. Trump is smart enough to continue making billions of dollars...I just was't meant to be rich! C'est Le Vie, lol.

Unlike you, I have never had to learn the tax laws of higher finance. I know nothing of gains and acceptable losses. But I am shocked to learn that Mr. Trump is part of Mr. Romney's 47% that doesn't pay taxes. Who knew he is a welfare queen equivalent.

The shock should be reserved to Congress who makes those tax laws. Just how many of them do you think pay taxes? They have written the laws so THEY could benefit. That's what establishment political whores do. Don't get after someone that uses those laws as well.
By the way, How many jobs do you think Trump has created in his time?
I would think it's time we elect anti-establishment candidates who will work for this country rather than make laws that only they could benefit from.

What does it matter how many jobs he created if he doesn't pay those he employs? And do you actually think Trump will shuffle those tax loopholes that allow him to live in a tower surrounded by gold without paying taxes? When anyone (read Bernie or Hillary) mentions closing loopholes like the one that allows claims of close to a Trillion bucks to live like a king for a generation without taxes they get slapped with that old trickle-down jobs-creating bullcrap. Tell me about the guy who lost the roof over his head, his kid's college fund, his wheels and all the others called 'welfare queens' for not paying taxes while living off the fat of the land, although a little less ostentatiously than the Trump crowd.

 

[jillian]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

sure looks like a tax cheat.

 

[Skull Pilot]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

If it was legal of course it should be allowed

 

[LoneLaugher]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

If it was legal of course it should be allowed

Yes. As far as we know, he broke no laws with that tax return and with claiming the loss.

Many things are "allowed" and "legal".....but are not things to be proud of.

 

[Jackson]

Either way it does not look good for Trump

He is running as such a great businessman who managed to lose close to a billion dollars in one year

He has not paid taxes in decades making him one of the 47%...a serial moocher

You don't know if he lost a billion in a year. Although, with our crazy economy, it could be right. The serial moochers are those who get welfare checks, apartment subsidies and other welfare appropriations from the government and never pay a dime in taxes!

 

[Skull Pilot]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...​

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur

Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.

Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.

If it was legal of course it should be allowed

Yes. As far as we know, he broke no laws with that tax return and with claiming the loss.

Many things are "allowed" and "legal".....but are not things to be proud of.

Pride has nothing to do with the law.

Tell me do you take every "allowed" deduction or do you pay more than you have to?

 

[NYcarbineer]

Either way it does not look good for Trump

He is running as such a great businessman who managed to lose close to a billion dollars in one year

He has not paid taxes in decades making him one of the 47%...a serial moocher

You don't know if he lost a billion in a year. Although, with our crazy economy, it could be right. The serial moochers are those who get welfare checks, apartment subsidies and other welfare appropriations from the government and never pay a dime in taxes!

Apparently billionaire Trump can't claim he had to pay for that welfare.