re: #240 lawhawk

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.

In addition those tax returns probably show enough information for some people to better figure out the shell games he was constantly carrying out with funds to defraud or cheat others since tax returns also include documentation information on where the money gained or lost was.

A high end lifestyle plus personally losing hundreds of millions of dollars in business does make one ask where all the money was coming into his personal accounts as well. (Answer: Investors or other grift victims for the most part I guess. Plus presumably there is some money laundering going on there with Don skimming some off for himself. Bankrupting multiple casinos in Atlantic City almost sounds like a The Producers-level scheme.)