Democrats in Congress release thousands of pages of ex-president Donald Trump's tax returns, providing the most detailed picture to date of his finances over a six-year period
A copy of Donald Trump's individual tax returns is seen after his returns were made public by US House Ways and Means Committee in Washington.
They show how Trump used the tax code to lower his tax obligation and reveal details about foreign accounts, charitable contributions and the performance of some of his highest-profile business ventures, which had largely remained shielded from public scrutiny. The records show how Trump limited his tax liability by offsetting his income against corporate losses as well as millions of dollars in businesses expenses, asset depreciation and other deductions.
Starting in 2018, however, he only reported an account in the UK. The returns also show that Trump claimed foreign tax credits for taxes he paid on various business ventures around the world, including licensing arrangements for use of his name on development projects and his golf courses in Scotland and Ireland.
In 2020, the year the coronavirus ravaged the economy, Trump reported no charitable donations at all. In 2019 and 2018 he reported writing checks for about $500,000 in donations. In earlier years the numbers were higher — $1.8 million in 2017 and $1.1 million in 2016. The Department of Justice also has been investigating reams of classified documents found at his Mar-a-Lago club and possible efforts to obstruct the investigation.In a statement on Friday, Trump lashed out at Democrats and the Supreme Court for the release.
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