Democrats release Trump’s tax returns, and CPAs have questions: ‘In order to generate these kinds of losses, you need to be super rich. It’s not a poor man’s game.’
The nonpartisan committee’s findings also raised several red flags related to the filings, namely Trump’s carryover losses, loans to his children that may or may not also be considered taxable gifts, and deduction-related tax write-offs. That year, as the COVID pandemic hit, the Trumps reported a loss of $4.8 million. For 2018 and 2019, the … Read more