How will Trumpsters take it when they discover he's paid no taxes for years?

[1939]

14. Real Estate

He is an "active" real estate investor as opposed to a "passive" real estate investor. He can have massive cash flow fom a building, let shows a loss because of depreciation. Lost of things may not make "economic sense" but make "tax sense". These types of things are embedded in the tax code and date back to FDR's time. They tried to reform some of them in 1986, but the tax code is still littered with them.

One of the tricks: A car dealer depreciates his building down to zero. He then sells his real estate at a profit and has LT cap gains rates on his profit plus the depreciation. He then leases it back from the REIT taking the rental costs as a charge against his income. The REIT then depreciates the building down to nothing and sells it back to the dealer paying LT cap gains rates. The dealer then begins the depreciation cycle all over again.