A previously unknown focus of an I.R.S. audit is a dubious accounting maneuver that effectively meant taking the same write-offs twice on a Chicago skyscraper.
Oh please, this is just more fake news by the lying liberal media designed to make a demented rapist and convicted fraud seem like some sort of dishonest person. Woke!
With sales lagging far behind projections, he claimed that his investment in the condo-hotel tower met the tax code definition of “worthless,” because his debt on the project meant he would never see a profit.
The first write-off came on Mr. Trump’s tax return for 2008. With sales lagging far behind projections, he claimed that his investment in the condo-hotel tower met the tax code definition of “worthless,” because his debt on the project meant he would never see a profit. That move resulted in Mr. Trump reporting losses as high as $651 million for the year, The Times and ProPublica found. There is no indication the I.R.S. challenged that initial claim, though that lack of scrutiny surprised tax experts consulted for this article. But in 2010, Mr. Trump and his tax advisers sought to extract further benefits from the Chicago project, executing a maneuver that would draw years of inquiry from the I.R.S. First, he shifted the company that owned the tower into a new partnership. Because he controlled both companies, it was like moving coins from one pocket to another. Then he used the shift as justification to declare $168 million in additional losses over the next decade.
“Fake news, folks! There are two Trump Towers in Chicago! The Biden crime family doesn’t want you to see the second tower, folks. But it’s there. It’s there. Two, big, beautiful towers in downtown Chicago!”
JFC indeed! That questionnaire was vomit-worthy, and the ticker at the bottom showing “recent donations” needs work because they’re repeating the same fake names over and over.
Yeah, it’s gross alright. Did you notice that there’s no way to submit your answers of the multiple choice questions without donation? It baits people to show their conviction to their responses with payment. Despicable.
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