Former President Donald Trump cheated on his taxes, according to investigative financial journalist David Cay Johnston.
“Trump received more than $154.2 million in wages, interest, dividends, capital gains, and pensions over the six years when he ran for president or lived in the White House,” Johnston wrote. “Despite this huge revenue stream, Trump reported minus $53.2 million in Adjusted Gross Income, the last number on the front page of your Form 1040 income tax return.”
Trump also did this in his 1984 tax return, resulting in two judges ruling that he had committed civil tax fraud, Johnston added.
However, greater scrutiny of Trump’s taxes could find that he committed other shady dealings “including charitable deductions that may be bogus or overstated; treating personal expenses as business expenses; loans to his three older children that may be to escape gift taxes; and reporting almost $5 million of capital contributions as tax-deductible business expenses,” Johnston noted.Trump’s newly released tax returns reveal cheating & years of paying zero taxes, reporter says – Alternet.org