Tuesday, November 8, 2016
Steve Rosenthal (Tax Policy Center), Protecting Trump's $916 Million of NOLs, 153 Tax Notes 829 (Nov. 7, 2016):
This article describes how Republican presidential nominee Donald Trump generated $916 million of net operating losses, and how he preserved them for later use.
If the IRS successfully disputed Trump’s exclusion of income from just these three bond restructurings, it might have eliminated about half of his $916 million of NOLs. And Trump might have begun to pay taxes sooner. We may never know, of course, unless Trump discloses his tax returns, which seems unlikely.