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MarketWatch: it’s possible he may not have lost actual money


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http://www.marketwatch.com/story/trump-offers-tax-clue-says-nearly-1-billion-loss-driven-by-depreciation-2016-10-10

 

 


The focus of Sunday night’s second presidential debate was on Trump’s “lewd comment” recordings, but we did learn a bit more about the Republican candidate’s taxes, too.

Trump said that “a lot” of the nearly $1 billion in losses the New York Times said he claimed on his 1995 tax return was the result of depreciation, a non-cash deduction.

Trump’s statements were consistent with MarketWatch reporting from last week that said it’s possible Trump may not have lost actual money.

See: Donald Trump’s nearly billion-dollar tax loss: He may not have lost money at all

Robert Thesman, a Washington state CPA who specializes in real estate tax issues, told MarketWatch on October 3 that the $909 million negative amount shown on the 1995 tax returns on the other income line may not be all net operating losses, and could have been caused by many activities that have no cash flow effect — so, in fact, not really scandalous.

“A huge first-year depreciation expense on a very leveraged asset, such as a new casino or hotel, could be such an example,” said Thesman.

According to transcripts of the debate posted by Politico ,Trump told moderator Anderson Cooper, “A lot of my write-off was depreciation…”

Cooper had asked Trump if he used the nearly $1 billion in losses shown on the three 1995 state tax returns leaked to The New York Times “to avoid paying personal federal income taxes?”

Trump responded, “Of course I did. Of course I did.”


Trump turned the discussion back on his opponent Hillary Clinton, by asserting that her donors avoid paying federal taxes in the same way. “And so do all of her donors, or most of her donors,” said Trump. “I know many of her donors. Her donors took massive tax write-offs.”

Trump cited Clinton supporters Warren Buffett and George Soros, and alluded to others without naming them, because they are “rich, but they’re not famous. So we won’t make them famous.”




'He said Hillary had eaten more p***y than he had.’

 

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kj

 

 

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