Business Maverick: Trump Had Losses of $1.17 Billion Over a Decade: NYT

President Donald Trump’s losses, in the 1980s and 1990s, were greater than those reported by nearly any other American taxpayer during that period, according to Internal Revenue Service data the New York Times said it had reviewed. In 1990 and 1991, according to the Times, Trump’s loses of $250 million a year were more than double those of the nearest taxpayer the IRS collected information on.

The Times said it did not obtain the actual tax returns, but instead received Trump’s IRS tax transcripts that included figures from his federal 1040 tax form from someone who had legal access to it. The Times said it was able to verify some of the figures by cross referencing them to other documents they had obtained.The losses cover Trump’s taxes from 1985 to 1994. The losses began with $46.1 million in 1985 from casinos, hotels and retail space, and grew year after year, the Times reported.

On Monday, Treasury Secretary Steven Mnuchin refused to release Trump’s personal and business tax returns from the past six years, setting up what could become one of the biggest legal showdowns between the president and a Congress seeking to investigate him.

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