Trump Tax Returns Released

Trump Tax Returns Released

( – Years after a legal battle ensued over former President Donald Trump’s tax returns, all 24 Democrats of the House Ways and Means Committee voted against the group’s 16 Republicans to release the documents. The former president was the first candidate to unwillingly release the information in 40 years. Trump’s refusal prompted legal action, which began in 2016. A protracted legal battle followed in 2019, and the issue went to the Supreme Court, eventually leading to this moment.

According to a report from the Ways and Means Committee, the former president and his wife Melania filed their taxes together and reported losses in four out of the six years between 2015 and 2020. The recent summary was only a partial release, with the full report expected after all personal information has been redacted.

In the six years the summary covered, the Trumps showed a net loss of around $53.2 million. The only years the former president and his wife showed a profit was 2018, when they reported a gain of over $24 million, and 2019, when they claimed to have made around $4.4 million. The then-First Couple paid out nearly $1 million in net taxes for 2018 and $133,445 for 2019. In 2020, Mr. and Mrs. Trump lost nearly $4.8 million and didn’t pay any federal taxes that year.

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