Trump paid $38m income tax in 2005 – White House

by Dolapo Adelana

The White House on Tuesday said President Donald Trump earned more than $150 million in income and paid $38 million in taxes.

The White House gave the details after US TV network MSNBC leaked two pages of Trump’s partial tax return.

A White Official said this was after taking into account large scale depreciation for construction in response to questions about the coming publication of his 2005 return.

The $38 million was in addition to “paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes,” a White House official said.

Trump during his Presidential campaign had promised to release his returns after he was accused of evading tax.

He was said to have used his loss of $916 million to cancel out an equivalent amount of taxable income for nearly two decades.

The White House has however not disclose when exactly it would be released.

There have been reports and suggestions from his aides that Trump may not release his returns since he won the election.

In October, The New York Times obtained a single year’s return anonymously that showed that Trump declared a $916 million loss and lists tax benefits he used after a turbulent financial period for him in the early 1990s.

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