Taxes

When Trump was running for the presidency he refused to release his 1040's and many in the press assumed he was hiding something maybe even illegal. Others never thought that because his returns were audited every year. When he finally released the 1040's it was big bust. Everyone who understands real estate knows how you take advantage of depreciation and how income is shifted from year to year which leads to wide variations in income. Trump's forms were no exception. What was revealed is that Trumps wealth declined from $3.7 billion to $2.1 billion during his years in office. The 1040's also revealed that Trump gave large sums to charity and that he did not collect social security and he gave most of his salary to charity. This then ended the interest in his tax returns. These returns to not look like someone who is interested in making lots of money which is another attribute often assigned to Trump. One thing of interest not talked about is that he paid over a million dollars each year in tax preparations fees.