Trump May Owe Over $100 Million in Taxes After IRS Targets His Chicago Tower
Here we go.
According to ProPublica and the New York Times, President Trump could owe more than $100 million in taxes for writing off a massive financial loss on his Chicago tower twice – once in 2008 and again in 2010
“The first write-off came on Trump’s tax return for 2008. With sales lagging far behind projections, he claimed that his investment in the condo-hotel tower met the tax code definition of “worthless,” because his debt on the project meant he would never see a profit. That move resulted in Trump reporting losses as high as $651 million for the year, ProPublica and the Times found.” ProPublica reported.
Of course, the IRS settled this inquiry years ago but brought it back after Trump ran for the White House.
