Decades-old Trump tax returns show over $1B in losses: report

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The New York Times obtained 10 years worth of President Trump’s tax returns from the late 1980s and early 1990s — and reported how he lost hundreds of millions of dollars on failed business deals.

The documents from 1985-1994 show he lost millions each year on casinos, hotels and retail space — totaling a loss of $1.7 billion for the decade, according to the paper.

Compared to IRS data, Trump lost more money than most other taxpayers during that time. In 1990 and 1991, he lost $250 million — double the next closest filer for those years, the paper said.

Trump lost so much money during this period that he avoided paying income tax for eight of those 10 years, the Times reported.

Trump lawyer Charles J. Harder called the figures “demonstrably false.” He also told the paper that it’s statements “about the president’s tax returns and business from 30 years ago are highly inaccurate,” without providing specifics.

“I.R.S. transcripts, particularly before the days of electronic filing, are notoriously inaccurate [and]would not be able to provide a reasonable picture of any taxpayer’s return,” he added.

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