Donald Trump claiming major losses twice on his Chicago Trump Tower is under IRS audit and could stick him with a nine-figure penalty.
found the former president and real estate mogul had claimed the same construction project as a tax write-off twice, reporting hundreds of millions of dollars in losses that are under ongoing audit by the IRS.
Trump then claimed the tower as a loss again in 2010 after moving it to a new partnership that he was still in charge of, claiming an additional $168 million in losses from it through the course of the next decade, the investigation found. Details of Trump’s IRS audit werewhen documents showed the agency investigating a nearly $73 million tax refund starting in 2010 — the same year as the new Chicago tower partnership.
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