Trump's Tax Returns
The WealthAbility Show with Tom Wheelwright, CPA
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Donald Trump's Tax Return 2015 Through 2020
A new law called the excess business loss rule, which is functions like a minimum tax on business owners who have non-business income. Donald Trump had about $10 to $12 million of interest income every year during those years that we have his tax return. That can only be offset only $500,000 of that income can be offset by losses from businesses. In 2021, he would pay up to $4 million in tax.
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