https://apnews.com/article/trump-tax-losses-audit-election-chicago-skyscraper-47729a0758e6b54aa06c075fc49c5c53
Former President Donald Trump may face an IRS bill in excess of $100 million after a government audit indicates he double-dipped on tax losses tied to a Chicago skyscraper, according to a report by The New York Times and ProPublica that drew on a yearslong audit and public filings.
The tax records cited by the report indicate that Trump twice deducted losses on the Trump International Hotel and Tower, which opened in 2009 near the banks of the Chicago River that cuts through that citys downtown.
The report said Trump initially reported losses of $658 million in his 2008 filings under the premise that the property fit the IRS definition of being worthless because condominium sales were disappointing and retail space went unfilled amid a deep U.S. recession.
But in 2010, the published report said, Trump transferred the ownership of the property to a different holding company that he also controlled, using the move to save money on taxes by reporting an additional $168 million in losses over the next decade on the same property.
Seriously, when is the IRS going to start charging this asshole for fraud?