Megathread: Long-Concealed Records Show President Trump’s Losses and Years of Tax Avoidance

President Donald Trump paid just $750 in federal income taxes in both 2016 and 2017, the New York Times reported Sunday.<br><br>According to the newspaper, Trump also paid no federal income tax in 10 of the 15 years before his presidency. The Times attributed this to him reporting significant financial losses.<br><br>Those losses included a $315.3 million loss reported in 1995 and a $7.4 million loss reported in 2018. The latter was in the first year of his presidency.<br><br>The Times based its reporting on more than two decades of tax-return data it says it has obtained for Trump and his companies.<br><br>It wrote that the paper trail it obtained lays bare "years of tax avoidance, largely through the aggressive use of tax write-offs."<br><br>Trump responded to the report by denying he had paid as little in taxes as the Times reported.<br><br>He told a news conference at the White House that he had paid "many millions of dollars" in taxes but had "taken advantage" of tax write-offs.<br><br>The Times investigation also found that Trump faces a potentially crippling tax bill, including fines and penalties, over the next four years.<br><br>This is the megathread for discussion of President Trump’s taxes. Please stay on topic and remember to keep the conversation civil.