The New York Times: Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father. “The president has long sold himself as a self-made billionaire, but a Times investigation found that he received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s.” By David Barstow, Susanne Craig and Russ Buettner. Published Oct. 2, 2018.
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11 Takeaways From The Times’s Investigation Into Trump’s Wealth by Russ Buettner, Susanne Craig and David Barstow instead.
“[A]n investigation by The New York Times has revealed that Donald Trump received the equivalent today of at least $413 million from his father’s real estate empire. What’s more, much of this money came to Mr. Trump through dubious tax schemes he participated in during the 1990s, including instances of outright fraud, The Times found.
In all, the president’s parents transferred well over $1 billion in wealth to their children, which could have produced a tax bill of at least $550 million under the 55 percent tax rate on gifts and inheritances that was in place at the time. Helped by a variety of tax dodges, the Trumps paid $52.2 million, or about 5 percent, tax returns show.”