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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMy wife is a tax attorney: David K. Johnston (source of tax returns) is a VERY reputable source.
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My wife is a tax attorney: David K. Johnston (source of tax returns) is a VERY reputable source. (Original Post)
brooklynite
Mar 2017
OP
The man with the most complicated taxes only has two pages released from over a decade ago?
TheBlackAdder
Mar 2017
#11
elleng
(131,136 posts)1. Yes, no doubt.
Warpy
(111,356 posts)2. My best guess says 2005 is his least incriminating year
which is the only reason anyone got the return.
uponit7771
(90,364 posts)4. +1, I'm also waiting on the schedules
4139
(1,893 posts)7. An Plant? Hmm yes I could see him doing that.
He is a master of distraction
uponit7771
(90,364 posts)3. It was given to DKJ, it could've come from Benedict Donald himslef
pat_k
(9,313 posts)5. "Divided: The Perils of Our Growing Inequality" (Good book of his)
Just an FYI. It's David Cay Johnston
leftstreet
(36,116 posts)6. Is this different from what's already been out there?
https://www.wsj.com/articles/donald-trump-got-a-big-break-on-2005-taxes-1458249902
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. Trumps $39.1 million would have represented about 2% of all such deductions nationwide that year.
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. Trumps $39.1 million would have represented about 2% of all such deductions nationwide that year.
lapucelle
(18,348 posts)8. Johnston was on MSNBC a lot during the primaries and the conventions.
He also broke the news that the Clinton Foundation paid the wrong taxes. I remember Lawrence O'Donnell literally salivating until it was revealed that the errors resulted in an over payment out of an abundance of caution.
pinboy3niner
(53,339 posts)9. David Cay Johnston also is a DU member. nt
Gothmog
(145,610 posts)10. I am attorney who was a CPA
Johnson is very credible
TheBlackAdder
(28,222 posts)11. The man with the most complicated taxes only has two pages released from over a decade ago?