(WBBM NEWSRADIO) — The former president used what ProPublica and the New York Times report was “dubious accounting” to lower taxes on the building.
He reported $651 million in losses in 2008, during the Great Recession, when he claimed the building met the tax code definition of “worthless” just before it was completed.
Then, in 2010, he created a new partnership that he controlled, which he cited to claim $168 million in additional losses.
The report says it was the equivalent of “moving coins from one pocket to another.”
Trump’s son, Eric, told the publications “this matter was settled years ago.”
Read the full report here.
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