Former President Donald Trump speaks at a rally for Senator Marco Rubio (R-FL) at the Miami-Dade Country Fair and Exposition November 6, 2022 in Miami, Florida.
Joe Ladle | Getty Images
Report reveals Trump reported negative income in 2015, 2016, 2017 and 2020 on federal tax returns and paid a total of $1,500 in income taxes in 2016 and 2017 became.
On their 2020 income tax returns, Trump and his wife Melania failed to pay federal income taxes and claimed a $5.47 million refund, according to a report by the staff of the Joint Taxation Commission.
The report was posted online shortly after the Board of Means. voted to publish President Trump’s complete income tax return and revisions to eight related entity tax returns for tax years 2015-2020.
These full returns will be released in the coming days.
another report released by way and means The commission has revealed that the IRS has initiated an audit of just one of Trump’s tax returns, even though internal policies require that sitting presidents audit the returns annually. .
A 39-page report by the staff of the Joint Taxation Commission provides highlights of Trump’s joint tax returns with Melania during his tenure and a breakdown of his first two years running for president.
The report identifies various areas that staff thought needed further investigation, including documents about $506,000 in charitable donations alleged by Trump in 2019.
Report highlights include:
- In the 2015 handover, Trump and his wife declared $31.7 million in negative income with $0 in taxable income. The couple paid $641,931 in federal income taxes.
- On my 2016 return, I had zero taxable income and declared negative income of $32.2 million. Trump paid $750 in taxes.
- The 2017 return declared negative income of $12.8 million with $0 taxable income. The couple paid $750 in taxes.
- The 2018 return showed gross revenue of $24.4 million and taxable income of $22.9 million. Trump paid $999,466 in federal income taxes.
- In 2019, Trump declared $4.44 million in gross earnings and $2.97 million in taxable income. They paid him $133,445 in taxes.
- The 2020 return has a negative income of $4.69 million and a taxable income of $0. Trump paid $0 in taxes and they claimed a $5.47 million refund.
Correction: Trump’s 2016 return declared negative income of $32.2 million. Previous versions incorrectly described the diagram.