A little morea million in taxes paid in four years, but not evenly distributed. Republican ex-president donald trump paid 750 dollars in 2017, a million, therefore, in 2018 and 2019, and nothing in 2020, the year during which his losses widened and he lost the presidential election against the Democrat Joe Biden.
These figures, made public in a parliamentary committee report on Tuesday, show the 76-year-old billionaire posted huge deficits from 2015 to 2020. But his income skyrocketed in 2018 and 2019, fueling more speculation about the extent of his fortune as Congress prepares to release its tax returns. The former reality TV star recorded capital gains on asset sales of $22 million in 2018 and $9 million the following year.
Trump’s tax returns to be released
But he lost almost $65 million during his campaign for the presidency in 2015 and 2016 and around $13 million during his first year in office. In 2020, his earnings were in the red of $5 million.
The report also showed Donald Trump carried forward $105 million in net operating losses on his 2015 return, $73 million in 2016, $45 million in 2017 and $23 million in 2018 to reduce tax liabilities. . Elected officials had voted Tuesday in favor of the publication of the tax returns of the former president, who led a legal battle for several years to keep them private.
A separate parliamentary report on the US tax authorities showed that the latter had not done what it was supposed to do for almost all of Donald Trump’s term. “The tax authorities opened only one mandatory examination from 2017 to 2020 for returns filed while the former president was in office,” according to the text.