What are Trump’s tax returns revealing?

Former President Donald Trump’s newly released tax returns have shed light on his business losses, complicated tax setups, and tax payments during his presidency.

Experts believe they will have little political impact as he considers another presidential run.

According to the documents, Mr. Trump paid no federal taxes in 2020 and only $750 (£622) in 2016 and 2017.

In 2018, he paid close to $1 million.
The records were released after a lengthy legal battle, and Mr Trump slammed the move, warning that it would widen the political divide in the United States.

He went on to say that the returns “demonstrate how proudly successful I have been and how I have been able to use depreciation and various other tax deductions as an incentive for creating thousands of jobs and magnificent structures and enterprises.”

Although there is no legal requirement, it is customary for presidents to release their tax returns.

US presidents are paid a salary like any other employee, but many also make money from their own businesses and investments.

Tax returns and related documents for Donald Trump, the Donald J Trump Revocable Trust, and seven corporate entities have been released.

They are only a small portion of the former president’s over 400 different business interests.

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