Report: Trump tax records show $916M loss, may have avoided paying taxes

Republican presidential candidate Donald Trump meets with active and retired law enforcement at a Fraternal Order of Police lodge in Akron, Ohio, Monday, Aug. 22, 2016. (AP Photo/Gerald Herbert)
Republican presidential candidate Donald Trump meets with active and retired law enforcement at a Fraternal Order of Police lodge in Akron, Ohio, Monday, Aug. 22, 2016. (AP Photo/Gerald Herbert)

WASHINGTON (AP) – Tax records obtained by The New York Times show that Donald Trump’s business losses in 1995 were so large that they could have allowed him to avoid paying federal income taxes for as many as 18 years.

In a story published online late Saturday, The Times said it anonymously received the first pages of Trump’s 1995 state income tax filings in New York, New Jersey and Connecticut. The filings show a net loss of $915,729,293 in federal taxable income for the year.

That Trump was losing money during the early to mid-1990s – a period marked by bankruptcies and poor business decisions – was already well established. But the records obtained by the Times show losses of such a magnitude that they potentially allowed Trump to avoid paying taxes for years, possibly until the end of the last decade.

Trump’s campaign released a statement on Saturday lashing out at the Times for publishing the records and accused the newspaper of working to benefit the Republican nominee’s presidential rival, Democrat Hillary Clinton.

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