September 28, 2020

WASHINGTON (Reuters) - President Donald Trump paid just $750 in federal income taxes in both 2016 and 2017, after years of reporting heavy losses from his business enterprises to offset hundreds of millions of dollars in income, the New York Times reported on Sunday, citing tax-return data.

In a report that Trump dismissed as “fake news,” the Times said the Republican president also paid no federal income taxes in 10 of the previous 15 years through 2017, despite receiving $427.4 million through 2018 from his reality television program and other endorsement and licensing deals.

The disclosure of previously private tax information came little more than a month before the Nov. 3 election between Trump and Democrat Joe Biden. Democrats were quick to seize on the report to paint Trump as a tax dodger and raise questions about his carefully groomed image as a savvy businessman.

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https://www.reuters.com/article/us-usa-trump-taxes/trump-frequently-paid-no-federal-income-taxes-in-years-leading-up-to-presidency-new-york-times-idUSKBN26I10L