In 2005, President Donald Trump paid $38 Million in Federal Income Tax on a $150 million income NBC revealed on Tuesday evening.
President Donald Trump is the first President – or even Presidential candidate – that has not released his tax returns since Richard Nixon.
BREAKING: We've got Trump tax returns. Tonight, 9pm ET. MSNBC.
— Rachel Maddow MSNBC (@maddow) March 14, 2017
The leaked 1040 tax return form is a summary but offers a rare glimpse in other obscure finances. It shows the President’s TV salary, business profits, and dividends but does not reveal the identities of companies and individuals with whom he did business. That means Donald Trump’s links with foreign states, including Russia, remain out of reach.
The investigative reporter, David C. Johnston, who uncovered the 1040 form says he found it in his mailbox.
Does anybody really believe that a reporter, who nobody ever heard of, "went to his mailbox" and found my tax returns? @NBCNews FAKE NEWS!
— Donald J. Trump (@realDonaldTrump) March 15, 2017
In a statement on Tuesday evening, the White House verified the “illegally published” tax forms, specifying that Trump had a “responsibility to his company, his family and his employees to pay no more tax than legally required.”
Trump WH confirms my report, but fakes numbers. Trump paid $36.5m income tax, not $38 & not $40m Don Jr. claims. False WH statements. Sad!
— David Cay Johnston (@DavidCayJ) March 15, 2017
In October 2016, the New York Times leaked Trump’s 1995 New York State tax returns that showed a $916 million loss. At the time, Trump could take advantage of a legal loophole to secure negative tax on future earnings on these losses for 18 years.