Former US President, Donald Trump, paid no income tax in 2020. Reports revealed that he reported a loss from his businesses during the final year of his presidency. Trump's income & tax liability, fluctuated dramatically during his 4 years in the White House.

        

Donald Trump paid no taxes in 2020, records reveal he reported losses in office

WHAT?

The former President of the United States (US), Donald Trump, paid no income tax in 2020. 

WHEN?

The records by the Democratic-led House of Representatives Ways and Means Committee, was released on Tuesday, 20/12/2022, after a years-long fight. 

HOW?

Reports revealed that he reported a loss from his sprawling business interests during the final full year of his presidency.

According to tax figures released by a congressional panel, Trump's income, and his tax liability, fluctuated dramatically during his four years in the White House.

The record highlighted that Trump and his wife, Melania, paid some form of tax during all four years, but were able to minimize their income taxes in several years as income from Trump's businesses was more than offset by deductions and losses.

The former US President refused to make his tax returns public during his two presidential bids and his campaign for office. All other major-party presidential candidates have done so for decades.