re: #22 Dangerman

NOLs… and any income that he did declare could be offset by NOLs for up to 20 years.

Trump was long known to have partaken in one of the largest NOLs by an individual taxpayer (as opposed to a corporate NOL). Massive losses get to offset any income declared for up to 20 years following the year in which the NOL is declared.

All of that is legit, but it shows that far from being a business wizard, he was running a money hemorrhaging business for years. In real estate, let alone NY real estate, that’s just nuts, since you have consistent revenue and unless you’ve made such awful deals , you should be able to eke out a consistent profit.