Here are key figures from Trump’s tax returns
New numbers in a House Ways and Means Committee report showed Donald J. Trump paid $1.1 million in federal income taxes in his first three years as president, and paid no taxes in 2020 as his income began to dwindle .
Year | Adjusted gross income | Tax based income and AMT |
Tax credits | Final tax assessment after credits |
---|---|---|---|---|
2020 | – $4,795,757 | $0 | $0 | $0 |
2019 | 4,380,714 | 558,780 | –425,335 | 133,445 |
2018 | 24,339,696 | 9,356,232 | –8,356,766 | 999,466 |
2017 | –12,916,948 | 7,435,857 | –7,435,107 | 750 |
2016 | –32,409,674 | 2,234,725 | –2,233,975 | 750 |
2015 | –31,756,435 | 2,127,670 | –1,485,739 | 641,931 |
Tax credits include foreign tax credits, the General Entrepreneurial Discount and other discounts.
Mr. Trump’s fortunes changed during his presidency, according to figures in the report, which detail the former president’s tax returns from 2015 to 2020. In the two years before he became president, Mr. Trump suffered heavy business losses, the data showed. In his first three years as president, he had an adjusted gross income of $15.8 million.
Mr. Trump’s tax bills, after deductions, were based on his income when it was above zero, as well as the alternative minimum tax in four of the six years. The AMT limits deductions that would otherwise have helped eliminate its tax burden. He lowered his resulting tax bills with a mix of tax cuts, including incentives and refunds to business owners.
The detailed data in the report shows consistent losses over the six years, particularly in real estate and other business, a category that includes losses carried forward from previous years.
Mr. Trump’s income, by source
Category | 2015 | 2016 | 2017 |
---|---|---|---|
Salary | $14,141 | $978 | $373,629 |
interest | 9,393,096 | 8,994,141 | 6,758,494 |
Dividends | 1,729,897 | 337,938 | 21,984 |
Business income | –599,030 | 8,797,393 | 1,433,030 |
Property | –7,882,011 | –15,939,523 | –16,746,815 |
Other cases | –76,909,237 | –44,955,324 | –12,306,111 |
Capital gains | 35,835,453 | 10,941,053 | 7,528,298 |
Other gains | 6,603,042 | –444,633 | 33,740 |
Pensions | 77,808 | 77,808 | 84,351 |
Refunds | 0 | 0 | 0 |
Total income | –31,736,841 | –32,190,169 | –12,819,400 |
Category | 2018 | 2019 | 2020 |
---|---|---|---|
Salary | $393,957 | $393,928 | $393,229 |
interest | 9,435,377 | 11,332,436 | 10,626,179 |
Dividends | 60,254 | 71,921 | 25,347 |
Business income | –430,408 | –225,560 | –29,686 |
Property | –11,992,220 | –16,472,951 | –15,676,469 |
Other cases | 4,826,478 | 0 | 0 |
Capital gains | 22,015,123 | 9,257,197 | 0 |
Other gains | 0 | 0 | –501,255 |
Pensions | 86,532 | 86,532 | 86,532 |
Refunds | 0 | 0 | 382,065 |
Total income | 24,395,093 | 4,443,503 | –4,694,058 |
Comments are closed.