Trump Got $413 Million From His Dad, Largely From Tax Dodges
New York (AP) -- The New York Times reported Tuesday that President Donald Trump received at least $413 million from his father over the decades, much of that through dubious tax dodges, including outright fraud.
The 15,000-word Times report contradicts Trump's portrayal of himself as a self-made billionaire who started with just a $1 million loan from his father.
The Times says Trump and his father, Fred, avoided gift and inheritance taxes by setting up a sham corporation and undervaluing assets to tax authorities. The Times says its report is based on more than 100,000 pages of financial documents, including confidential tax returns from the father and his companies.
A lawyer for Trump, Charles J. Harder, told the Times that there was no "fraud or tax evasion" and that the facts cited in the report are "extremely inaccurate."
The New York state tax department told The Associated Press that it is reviewing the allegations in the Times and "is vigorously pursuing all appropriate avenues of investigation." The department typically refers findings to the state attorney general's office.
https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html
