Newspaper: Trump lost more than $1 billion from 1985 to 1994

The New York Times says Trump reported business losses of $46.1 million in 1985, and a total of $1.17 billion in losses for the 10-year period.

Associated Press

May 7, 2019

Donald Trump ascends the stairs with his fist raised from the genie's lamp after opening the Trump Taj Mahal Casino Resort in a spectacular show of fireworks and laser lights Thursday evening in Atlantic City, N.J., on April 5, 1990. Behind Trump is the 42-story hotel. (AP Photo/Chaarles Rex Arbogast)

The New York Times is reporting that Donald Trump’s businesses lost more than $1 billion from 1985 to 1994, based on tax information the newspaper acquired.

The Times says it has acquired printouts from the future president’s official IRS tax transcripts, including figures from his federal tax form.

The newspaper says Trump reported business losses of $46.1 million in 1985, and a total of $1.17 billion in losses for the 10-year period.

The House Ways and Means Committee has asked the IRS to provide Trump’s personal and business returns for 2013 through 2018. Treasury Secretary Steven Mnuchin on Monday refused to do so, saying the panel’s request “lacks a legitimate legislative purpose.”

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Mnuchin’s move, which had been expected, is likely to set a legal battle into motion.

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