Essential News Quiz: Donald Trump Taxes

Exactly. According to the NY Times report, President Trump paid only 750$ in both 2016 and 2017.

That’s right. President Trump received $72.9 million in tax returns over the last 18 years. This refund has been under an IRS audit since 2011, which remains unresolved and could end up costing him $100 Million in court.

The New York Times reports that while declaring losses, President Trump has managed to take tax deductions on personal expenses such as residences, aircraft and hairstyling for television.

True. According to the New York Times report, Mr. Trump spent more than $70,000 to style his hair during The Apprentice.

The Times reports that Ivanka Trump while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill.

While the Trump Organization website reports “Seven Springs is used as a retreat for the Trump family.”, According to the NY Times report, Trump has classified the estate as an investment property, distinct from a personal residence. As a result, he has been able to write off $2.2 million in property taxes since 2014.

According to the New York Times report, Since 2000,Trump has reported losing more than $315 million at the golf courses that he often describes as the ‘heart of his empire’.

In 2012, he took out a $100 million mortgage on the commercial space in Trump Tower. He appears to have paid off none of the principal of the Trump Tower mortgage, and the full $100 million comes due in 2022.

According to the Times report, President Trump appears to be responsible for loans totaling $421 million, most of which is coming due within four years.

According to the Times report, President Trump’s financial records indicate that he may have as little as $873,000 left to sell.