The Trump family dodged taxes
"... the newspaper charged that [the trump family] “dodged hundreds of millions of dollars in gift taxes by submitting tax returns that grossly undervalued" the real estate assets they put in their parent Fred and Mary Trump’s GRATs. For example, even though the properties sold for $900 million a few years later, Fred Trump’s 1995 gift tax return said they were worth just $41.4 million. That’s a huge tax dodge.
And the tax authorities noticed, finding on audit that the properties were worth $57.1 million."
The Trumps low-balled the valuation, figuring that although the IRS has rules for determining fair market value, they weren’t likely to be challenged."
https://www.usatoday.com/story/opini...mn/1639787002/
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