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NEW YORK DAWN™ > Blog > Politics > Here Are the Key Numbers From Trump’s Tax Returns
Here Are the Key Numbers From Trump’s Tax Returns
Politics

Here Are the Key Numbers From Trump’s Tax Returns

Last updated: December 21, 2022 8:39 pm
Editorial Board Published December 21, 2022
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New figures in a report by the House Ways and Means Committee showed that Donald J. Trump paid $1.1 million in federal income taxes in his first three years as president, and that he paid no taxes in 2020 as his income began to dwindle.

Year Adjusted Gross Income Tax based on
income and A.M.T.
Tax credits Final tax bill
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 Business Credit and other credits.

Mr. Trump’s fortunes changed during his presidency, according to the figures in the report, which include details on 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 records 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 A.M.T. limits deductions that would have otherwise helped to erase his tax burden. He reduced his resulting tax bills with a mix of tax credits that included incentives and givebacks to business owners.

The detailed records in the report show consistent losses over the six years, particularly in real estate and other business, a category that includes losses carried over from previous years.

Mr. Trump’s income, by source

Category 2015 2016 2017
Wages $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
Real estate –7,882,011 –15,939,523 –16,746,815
Other business –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
Wages $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
Real estate –11,992,220 –16,472,951 –15,676,469
Other business 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

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TAGGED:Federal Taxes (US)House Committee on Ways and MeansThe Washington MailTrump, Donald J
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