China News Service, December 22, a comprehensive report, the tax data released by the Ways and Means Committee of the US House of Representatives showed that in the first three years of his presidency, Trump paid US$1.1 million in federal income taxes, but in 2020, As his income dwindles, losses mount again, and taxes are zero.

Data map: Trump.

　　According to reports, the U.S. House of Representatives Ways and Means Committee decided on December 20 to release Trump's tax report, which includes details of Trump's federal tax returns from 2015 to the completion of his presidency.

The documents were obtained by the Ways and Means Committee after a lengthy court battle because Trump insisted on keeping the information private.

　　The report shows that in the first year of his presidency, Trump only paid $750 in federal income tax due to huge losses in many businesses.

Things picked up in 2018, with Trump reporting an adjusted gross income of $24.3 million and paying nearly $1 million in federal taxes.

In 2019, Trump also had a surplus, reporting income of $4.4 million and paying taxes of about $133,400.

　　But in 2020, as the U.S. economy was affected by the new crown epidemic, Trump's financial situation reversed, reporting a loss of $4.8 million and paying zero income taxes.

　　The "New York Times" pointed out that in 2018, Trump's income suddenly surged, largely because he sold real estate or investments and obtained a gain of 22 million US dollars.

For years, Trump has reduced taxable income by spreading business losses into future years, but those losses also appear to have been drained.

　　In 2020, though, Trump started reporting losses again.

In fact, while capital gains boosted his profits in 2018, his entire core business — real estate, golf courses and hotels — has lost money every year, totaling $60 million during his presidency.

　　The U.S. Chinese website said that the report also raised questions about some of Trump's business practices, and the House Ways and Means Committee has asked the IRS to conduct further investigations into some of these behaviors, including his charitable donations.

While in the White House, Trump made charitable contributions in the form of cash, new tax data shows.

The House committee believes this merits further investigation.

　　In addition, the IRS is also investigating whether Trump allegedly manipulated property values ​​to obtain huge tax breaks.

The report mentioned that Trump owns an estate in Westchester County, New York.

For many years it was classified as a personal residence, but in 2014 the property was reclassified as an investment property.

He has since written off $2.2 million in property taxes as a business expense, even though the law only allows individuals to write off $10,000 in property taxes a year.