Trump taxes show losses of $1.17 billion over decade: report

WASHINGTON: US President Donald Trump on Wednesday dismissed as a "Fake News hit job" a report that he accumulated $1.17 billion in losses over a decade starting in 1985 when he was promoting himself as a master dealmaker.Trump did not directly acknowledge the losses reported by The New York Times, but in a pair of tweets said real estate developers were entitled to "massive writeoffs and depreciation." "You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport," he said."Additionally, the very old information put out is a highly inaccurate Fake News hit job!" According to the Times, Trump's apparent losses were greater than nearly any other individual American taxpayer, so much so that he managed to avoid paying income taxes for eight of the 10 years.Trump's federal tax forms from 1985 show he reported $46.1 million in losses from his main businesses, which consisted mainly of casinos, hotels and retail spaces in apartment buildings.

from The News International - World http://bit.ly/2VbcB3Q

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