The Buzz | Trump says report he lost over $1b ‘inaccurate’
President Donald Trump says a New York Times report that his businesses lost more than USD1 billion from 1985 to 1994 is “highly inaccurate.”
The newspaper, citing information from Trump’s tax transcripts, reported business losses of $46.1 million in 1985, and a total of $1.17 billion in losses for the 10-year period.
Trump tweeted yesterday that real estate developers during that period were “entitled to massive write offs and depreciation” that would “show losses and tax losses in almost all cases.” He tweeted that much of those losses were “non monetary.”
Trump said, “You always wanted to show losses for tax purposes” and “renegotiate with banks.” Trump called that “sport.”
He said the Times story was based on “very old information” and a “highly inaccurate Fake News hit job!”
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