Welcome Guest [Log In] [Register]
Welcome to The New Coffee Room. We hope you enjoy your visit.


You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.


Join our community!


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
  • Pages:
  • 1
  • 3
caption anyone?
Topic Started: Oct 2 2016, 05:14 AM (1,039 Views)
John Galt
Fulla-Carp
Quote:
 
The $916 million loss that Donald Trump reported on his 1995 income taxes was extraordinary. As Alan Cole from the conservative Tax Foundation notes, total net operating losses claimed on all individual income tax returns in 1995 amounted to $49.3 billion.*

That is, in that year, Trump claimed nearly 2% of all the net operating losses on individual tax returns in the entire country. ...

So, why did Trump have such a yugely negative reported income? The story is almost surely a little from the first option ("I'm not very good at the real-estate business and am mostly rich because I inherited lots of money") and a little from the second ("I had real income but I found ways to avoid paying tax on it even though you little people had to pay tax on your income").

One fact that points toward the second explanation is that Trump's 1995 taxes reflect not just a large carried-forward loss from prior years, but also a $16 million loss from real estate and other partnerships related to 1995 itself. Real-estate investments were on the upswing again in 1995, so if Trump was really still losing money, that's a pretty bad sign about his business acumen.]


http://www.businessinsider.com/trump-tax-returns-estate-taxes-hillary-clinton-2016-10
Let us begin anew, remembering on both sides that civility is not a sign of weakness.
Offline Profile Quote Post Goto Top
 
Larry
Member Avatar
Mmmmmmm, pie!
Bullsh!t.

In commercial real estate there was a global boom that peaked in 1989, after which came a bust that saw asset values deflate like crazy, a bust in asset values that didn't begin to turn around until 94.

Taxes filed in 95 are for the year 94, and could include losses not taken in previous years.

When you can show me where the man broke a law, get back to me. Until then, this is just another democrat witch hunt.
Of the Pokatwat Tribe

Offline Profile Quote Post Goto Top
 
John Galt
Fulla-Carp
Quote:
 
Taxes filed in 95 are for the year 94


The Trump returns in question are 1995 tax year returns (see the heading on the form that says "For the year January 1 through December 31, 1995..."). There's no date I can see on the form for when it was filed, but it had to be 1996 or after.


Posted Image




Quote:
 
In commercial real estate there was a global boom that peaked in 1989, after which came a bust that saw asset values deflate like crazy, a bust in asset values that didn't begin to turn around until 94. and could include losses not taken in previous years.


Then you seem to agree with what I quoted previously from the BI article: "1995 taxes reflect not just a large carried-forward loss from prior years, but also a $16 million loss from real estate and other partnerships related to 1995 itself. Real-estate investments were on the upswing again in 1995"



Quote:
 
When you can show me where the man broke a law, get back to me.


Who said he broke the law?



Quote:
 
this is just another democrat witch hunt.


Of course it is. Quid pro quo and all that. That's what politics is all about these days.



Let us begin anew, remembering on both sides that civility is not a sign of weakness.
Offline Profile Quote Post Goto Top
 
« Previous Topic · The New Coffee Room · Next Topic »
Add Reply
  • Pages:
  • 1
  • 3