Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: So, basically, she has nothing [View all]leftstreet
(36,118 posts)2. Was there anything different from what was already out there?
This article is a year old
https://www.wsj.com/articles/donald-trump-got-a-big-break-on-2005-taxes-1458249902
By Richard Rubin
Biography
@RichardRubinDC
[email protected]
March 17, 2016 5:25 p.m. ET
137 COMMENTS
Donald Trump was able to deduct $39.1 million from his 2005 federal income taxes by pledging not to build houses on a New Jersey golf course he owns, according to public records.
An appraisal conducted for the 2005 transaction determined that Trump National Golf Club in Bedminster, N.J. was worth $49.5 million if it could be split into 33 estates, but just $10.4 million as a golf course. Tax law lets property owners impose permanent conservation restrictions and then claim charitable deductions for the reduction in value. Those restrictions curb what future owners may do with a property.
In 2005, according to the Internal Revenue Service, 2,186 taxpayers claimed so-called conservation easements for a total of $1.8 billion. That means Mr. Trumps $39.1 million would have represented about 2% of all such deductions nationwide that year.
Mr. Trump, now the front-runner for the Republican presidential nomination, subsequently built a second golf course on the property, which once belonged to automobile executive John DeLorean. He said last year in his federal financial disclosure that the property was worth more than $50 million.
By Richard Rubin
Biography
@RichardRubinDC
[email protected]
March 17, 2016 5:25 p.m. ET
137 COMMENTS
Donald Trump was able to deduct $39.1 million from his 2005 federal income taxes by pledging not to build houses on a New Jersey golf course he owns, according to public records.
An appraisal conducted for the 2005 transaction determined that Trump National Golf Club in Bedminster, N.J. was worth $49.5 million if it could be split into 33 estates, but just $10.4 million as a golf course. Tax law lets property owners impose permanent conservation restrictions and then claim charitable deductions for the reduction in value. Those restrictions curb what future owners may do with a property.
In 2005, according to the Internal Revenue Service, 2,186 taxpayers claimed so-called conservation easements for a total of $1.8 billion. That means Mr. Trumps $39.1 million would have represented about 2% of all such deductions nationwide that year.
Mr. Trump, now the front-runner for the Republican presidential nomination, subsequently built a second golf course on the property, which once belonged to automobile executive John DeLorean. He said last year in his federal financial disclosure that the property was worth more than $50 million.
Edit history
Please sign in to view edit histories.
60 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
agree, when I heard 2 pages from 2005 I thought "haven't we seen this all before"?
Hamlette
Mar 2017
#6
nnnnnnn, I'll take them seriously all the time... but they should've gotten the bigger story
uponit7771
Mar 2017
#7
yeap, the 1040 is basically just a summary... the schedules are needed for right off details
uponit7771
Mar 2017
#5
Wow, what a huge let down. Next time she does this, I won't believe her. Kind of like
manicraven
Mar 2017
#8
David Cay Johnson is talking about how the figures were arrived at,
The Velveteen Ocelot
Mar 2017
#10
In which case, a Rhodes Scholar like RM should have looked at the returns...
regnaD kciN
Mar 2017
#59
She's making this story scream cover-up. She's going to save us all from Russian mobsters.
lindysalsagal
Mar 2017
#21
"Trump Pays His Taxes" is everywhere on every comment section about this story
Quixote1818
Mar 2017
#49