Trump

Trump claimed he paid more tax in year than most in lifetime but in 2020 paid ... $0

Treasury Making Trump Taxes Available To House Committee

After years of speculation, the public is finally getting answers about former president Donald Trump’s taxes and the conclusion is he did not pay federal income tax in 2020.

On Friday, House Democrats released six years of the former president’s tax records from when he announced his campaign in 2015 to when he left office in 2020.

Along with the records was an analysis from the Joint Committee on Taxation which found Trump paid $750 in federal income tax in 2017 and $0 in 2020.

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The revelation is a sharp contradiction to previous statements Trump has made about paying taxes.

Like in 2013, when Trump re-tweeted someone who claimed “Trump is an American that will pay more taxes in one year than you pay in your entire life.”

@realDonaldTrump

The poorly-aged tweet has been used against Trump before.

When it was revealed he only paid $750 in federal income tax in 2017, many pointed to the former president's boasting on Twitter about his finances.

Similarly, a 2012 tweet from Trump where he criticized former president Barack Obama for “only” paying “ 20.5% on $790k salary" has been used against him.

@realDonaldTrump

In his 2020 tax filings, Trump indicated he suffered heavy losses in real estate and business income which led to his federal income tax being $0.

The former president did pay over $1 million in federal income taxes combined in 2018 and 2019, but some are calling out the drastic inconsistency in each year-to-year.

In response to his tax filings being released, Trump wrote on Truth Social, “The Democrats should have never done it, the Supreme Court should have never approved it, and it’s going to lead to horrible things for so many people.”

The documents have called into question Trump's business practices and income declarations.

Already, Trump's business, the Trump Organization, and his children are being sued by the New York Attorney General for committing business fraud.

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