Trump taxes detailed in new report from Congress

Former President Donald Trump speaks at a rally for Senator Marco Rubio (R-FL) at the Miami-Dade Country Fair and Exposition November 6, 2022 in Miami, Florida.

Joe Ladle | Getty Images

The amount of income, deductions and taxes paid or returned to former President Donald Trump while he was in the White House new report Released Tuesday night.

Trump reported negative income on his federal tax returns in 2015, 2016, 2017 and 2020 and paid a total of $1,500 in income taxes in 2016 and 2017, according to the report.

On their 2020 income tax returns, Trump and his wife Melania failed to pay federal income taxes and claimed a $5.47 million refund, according to a report by the staff of the Joint Taxation Commission.

The report was released online shortly after the Ways and Means Commission voted to release Trump’s full income tax returns and redacted versions of eight related entity returns for the 2015-2020 tax years. Posted in

These full returns will be released in the coming days.

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Another report published by way and means The commission found that the IRS began auditing just one of Trump’s tax returns during his presidency, even though internal policies mandate that a sitting president audit the returns annually. clarified.

A 39-page report by the staff of the Joint Taxation Commission provides highlights of Trump’s joint tax returns with Melania during his tenure and a breakdown of his first two years running for president.

The report identifies various areas that staff thought warranted further investigation, including documents about $506,000 in charitable donations alleged by Trump in 2019.

Report highlights include:

In their 2015 handover to the federal government, Trump and his wife declared $31.7 million in negative income with $0 in taxable income. The couple paid $641,931 in federal income taxes.
On my 2016 return, I declared negative income of $31.2 million and had zero taxable income. Trump paid $750 in taxes.
The 2017 return declared negative income of $12.8 million with $0 taxable income. The couple paid $750 in taxes.
The 2018 return showed gross revenue of $24.4 million and taxable income of $22.9 million. Trump paid $999,466 in federal income taxes.
In 2019, Trump declared $4.44 million in gross earnings and $2.97 million in taxable income. They paid him $133,445 in taxes.
The 2020 return has a negative income of $4.69 million and a taxable income of $0. Trump paid $0 in taxes and they claimed a $5.47 million refund.

See Trump’s annual tax return report here.

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