Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

leftstreet

(40,981 posts)
5. But info from his 2005 returns has been out there over a year
Tue Mar 14, 2017, 10:01 PM
Mar 2017

I'm just not getting it, but I didn't watch her program so I'm probably missing something


https://www.wsj.com/articles/donald-trump-got-a-big-break-on-2005-taxes-1458249902

Donald Trump Got a Big Break on 2005 Taxes
Conservation easement on a New Jersey golf club triggered deduction of $39.1 million

By Richard Rubin
March 17, 2016 5:25 p.m. ET
137 COMMENTS

Donald Trump was able to deduct $39.1 million from his 2005 federal income taxes by pledging not to build houses on a New Jersey golf course he owns, according to public records.

An appraisal conducted for the 2005 transaction determined that Trump National Golf Club in Bedminster, N.J. was worth $49.5 million if it could be split into 33 estates, but just $10.4 million as a golf course. Tax law lets property owners impose permanent conservation restrictions and then claim charitable deductions for the reduction in value. Those restrictions curb what future owners may do with a property.

In 2005, according to the Internal Revenue Service, 2,186 taxpayers claimed so-called conservation easements for a total of $1.8 billion. That means Mr. Trump’s $39.1 million would have represented about 2% of all such deductions nationwide that year.

Mr. Trump, now the front-runner for the Republican presidential nomination, subsequently built a second golf course on the property, which once belonged to automobile executive John DeLorean. He said last year in his federal financial disclosure that the property was worth more than $50 million.

Recommendations

0 members have recommended this reply (displayed in chronological order):

How is that shocking? leftstreet Mar 2017 #1
Because voters made that rich asshole president BainsBane Mar 2017 #2
Because other rich assholes haven't hid their reasons for doing such like Benedict Donald uponit7771 Mar 2017 #3
But info from his 2005 returns has been out there over a year leftstreet Mar 2017 #5
Info, not the actual return itself were we people can report on from an official ... or near officia uponit7771 Mar 2017 #7
Can you clarify? AMT... FrenchieCat Mar 2017 #4
Alternative Minimum Tax uponit7771 Mar 2017 #6
The AMT is a special tax paid by some high-income taxpayers The Velveteen Ocelot Mar 2017 #11
That's one inference I drew from this - The Velveteen Ocelot Mar 2017 #8
yeap, DKJ pointing this out at least has someone on that track with the AMT uponit7771 Mar 2017 #12
It also makes it clear he needs to release his full taxes for the last 15 years. KittyWampus Mar 2017 #9
Yeap, that bullshit ass'd excuse of "no one cares" now can be challeged uponit7771 Mar 2017 #13
who is going to care about this? not his supporters and Ohioblue22 Mar 2017 #10
+1, he can't use the "no one cares" bullshit excuse now and there's a quid-pro-quo financially whith uponit7771 Mar 2017 #15
he doesnt need to he's unxer no obligation to release them Ohioblue22 Mar 2017 #17
notice how many low count posters, newbies and people who haven't posted in 10 years KittyWampus Mar 2017 #14
+1, yes... at least they can't TO us now without some serious review uponit7771 Mar 2017 #16
Latest Discussions»General Discussion»BREAKING: Benedict Donald...»Reply #5