Trump taxes detailed in new report from Congress

Former U.S. President Donald Trump speaks at a rally by Senator Marco Rubio (R-FL) at the Miami-Dade National Fair and Expo on November 6, 2022 in Miami, Florida.

Joe Raedle | beautiful pictures

Amount of income, deductions and taxes paid or refunded to the former President Donald Trump while serving in the White House was detailed in a new report released Tuesday night.

The report revealed that Trump on his federal tax returns declared negative income in 2015, 2016, 2017 and 2020, and he paid a total of $1,500 in income taxes for 2016 and 2017. .

On their 2020 income tax returns, Trump and his wife Melania did not pay federal income taxes and asked for a refund of $5.47 million, according to the Joint Commission on Taxation staff report.

The report was posted online shortly after the Ways and Means Commission Vote to make it public redacted versions of Trump’s complete income tax returns and of eight related business entities for tax years 2015 through 2020.

The full returns are expected to be released in the coming days.

individual report released by Ways and Means The committee revealed that the IRS began examining just one of Trump’s tax returns while he was in office, despite internal policy requiring sitting presidents to check the returns annually.

The Joint Commission’s 39-page report on tax officers lays out highlights of Trump’s joint tax filings with Melania during his time in office and his first two years as president.

The report identified various areas that staffers felt needed further examination, such as documentation of a nearly $506,000 charitable donation the Trump family requested in 2019.

Highlights of the report include:

  • On their 2015 federal tax return, Trump and his wife reported negative income of $31.7 million, with taxable income of $0. The couple paid federal income tax of $641,931.
  • The 2016 return declared negative income of $31.2 million, with taxable income of $0. The Trumps paid $750 in taxes.
  • The 2017 return declared negative income of $12.8 million, with taxable income of $0. The couple paid $750 in taxes.
  • The 2018 return claims total income of $24.4 million, with taxable income of $22.9 million. The Trumps paid $999,466 in federal income taxes.
  • In 2019, the Trump family reported total income of $4.44 million and taxable income of $2.97 million. They paid $133,445 in taxes.
  • The 2020 tax return shows negative income of $4.69 million, with taxable income of $0. The tax the Trumps paid was $0 and they asked for a refund of $5.47 million.

Read Trump’s annual tax return report here.

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