Donald Trump

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10 years of Trump's tax data shows over $1 billion in losses

The data was obtained and investigated by the New York Times.

May 07, 2019 - 7:23 pm

NEW YORK (AP/KFTK) — Ten years of President Donald Trump's taxes has been made public in a recent investigation conducted by The New York Times.

Data obtained by the Times from 1985 to 1994 reveals major losses from his core businesses including casinos, hotels and retail spaces in apartment buildings, totaling negative $1.17 billion over the decade.

The Times said it has acquired printouts from the future president's official IRS tax transcripts, including figures from his federal tax form.

After comparing Trump's information with that of other "high-income earners," the Times concluded that Trump "appears to have lost more money than nearly any other individual American taxpayer." Because of his business losses, the newspaper reported, Trump did not pay income taxes for eight of the 10 years.

The House Ways and Means Committee has asked the IRS to provide Trump's personal and business returns for 2013 through 2018. Treasury Secretary Steven Mnuchin on Monday refused to do so, saying the panel's request "lacks a legitimate legislative purpose."

Mnuchin's move, which had been expected, is likely to set a legal battle into motion. The chief options available to Democrats are to subpoena the IRS for the returns or to file a lawsuit.

Trump is the first president since Watergate to decline to make his tax returns public.

Read the full investigation here.

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