John Santucci and Mark Osborne of ABC News –
President Donald Trump is still fighting Congress over the release of his tax returns, but a new report on Tuesday analyzing his official Internal Revenue Service tax transcripts, with the figures from his federal tax forms, shows he lost over $1 billion from 1985 to 1994.
The documents show Trump’s businesses lost $1.17 billion over the 10 years, including $46.1 million in 1985 and hundreds of millions by the time of his much-publicized early-1990s financial collapse, according to a report in The New York Times, which acquired the tax documents.
The president has often portrayed himself as having a “golden touch” in all businesses during the 1980s, before fighting back from serious financial debt — due to struggles with his casino business — in the 1990s. His infamous book, “The Art of the Deal,” was released in 1987, right in the middle of the years covered in the tax documents.