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A "decade in the red" is how The New York Times describes newly obtained tax information about President Trump's businesses over a ten-year period. The printouts from Trump’s official Internal Revenue Service (IRS) tax transcripts — with figures from his federal tax forms for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view.
The numbers show that in 1985, Trump reported losses of US$46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totalling US$1.17 billion in losses for the decade.
The report claims Trump lost more money than nearly any other individual American taxpayer when it compared his results with detailed information the IRS compiles on an annual sampling of high-income earners. The losses meant Trump was able to avoid paying income taxes for eight of the 10 years. The information does not, however, cover the more recent tax years at the centre of an escalating battle between the Trump administration and Congress.