London Daily

Focus on the big picture.
Monday, Sep 01, 2025

Donald Trump Paid $1 Million In Tax During Presidency But Nothing In 2020

Donald Trump Paid $1 Million In Tax During Presidency But Nothing In 2020

Donald Trump paid $1.1 million in federal taxes in the middle two years of his presidency, more than most of American citizens and billionaires, according to a report being scrutinized by lawmakers Wednesday - but almost nothing for the rest of his time in the White House, as his business took a hit from his presidency.

The seven-figure sum the former Republican president shelled out in 2018 and 2019 dwarfs his $750 bill in 2017 -- and he paid nothing at all as his losses mounted in 2020, the year of his failed re-election bid.

The figures, released late Tuesday in a report by the US Congress Joint Committee on Taxation, showed that the 76-year-old billionaire mostly claimed enormous deficits from 2015 to 2020.

But his reported income skyrocketed in 2018 and 2019, heightening feverish speculation around his finances as Congress prepares to make public his tax returns in the coming days.

The former reality TV star registered capital gains from asset sales of $22 million in 2018 and $9 million the following year -- part of an overall taxable income of $28 million.

But he lost almost $65 million as he was campaigning for the presidency in 2015 and 2016 and around $13 million during his first year in office.

And Mr Trump was back to his losing ways by 2020, as his income went $5 million into the red.

The report also showed that Donald Trump had carried forward $105 million in net operating losses on his 2015 return, $73 million in 2016, $45 million in 2017 and $23 million in 2018 to reduce his tax liability.

The House Ways and Means Committee voted Tuesday to release all of Trump's 2015-2020 returns, ending a four-year battle between Democrats and the former president that eventually reached the Supreme Court.

But it could take days before they are made available to the public, as the documents need to be expunged of social security numbers and other sensitive information.

The New York Times alleged in 2020 that Donald Trump had paid no income tax in 10 of the previous 15 years after reporting massive losses.

"Trump claimed tens of millions of dollars in losses and credits without the type of substantiation an ordinary taxpayer would likely provide," Lloyd Doggett, a Democratic member of the committee, said in a statement.

"Donald Trump had big deductions, big credits, and big losses -- but seldom a big tax bill. Many questions about foreign entanglements and conflicts remain unanswered and unknown."

A separate congressional report on the Internal Revenue Service's mandatory presidential audit program showed it was not doing its job during most of Trump's time in office.

"The IRS only opened one mandatory examination from 2017 to 2020 for returns filed while the former president was in office," the report reads.

The IRS began to audit Mr Trump on the very day that Ways and Means Democrats requested his tax information in 2019.

Newsletter

Related Articles

0:00
0:00
Close
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
Federal Reserve Independence Questioned Amid Trump’s Push to Reshape Central Bank
British Politics Faces Tumultuous Autumn After Summer of Rebellions and Rising Farage Momentum
US Appeals Court Rules Against Most Trump-Era Tariffs
UK Sought Broad Access to Apple Users’ Data, Court Filing Reveals
UK Bank Shares Dive Over Potential Tax on Sector
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
French and Korean Nuclear Majors Clash As EU Launches Foreign Subsidy Probe
EU Stands Firm on Digital Rules as Trump Warns of Retaliation
Getting Ready for the 3rd Time in Its History, Germany Approves Voluntary Military Service for Teenagers
Argentine President Javier Milei Evacuated After Stones Thrown During Campaign Event
Denmark Confronts U.S. Diplomat Over Covert Trump-Linked Influence in Greenland
Starmer Should Back Away from ECHR, Says Jack Straw
Trump Demands RICO Charges Against George Soros and Son for Funding Violent Protests
Taylor Swift Announces Engagement to NFL Star Travis Kelce
France May Need IMF Bailout, Warns Finance Minister
Chinese AI Chipmaker Cambricon Posts Record Profit as Beijing Pushes Pivot from Nvidia
After the Shock of Defeat, Iranians Yearn for Change
Ukraine Finally Allows Young Men Aged Eighteen to Twenty-Two to Leave the Country
The Porn Remains, Privacy Disappears: How Britain Broke the Internet in Ten Days
YouTube Altered Content by Artificial Intelligence – Without Permission
Welcome to The Definition of Insanity: Germany Edition
Just a reminder, this is Michael Jackson's daughter, Paris.
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
×