2017-03-15 — thedailybeast.com
The documents show Trump and his wife Melania paying $5.3 million in regular federal income tax--a rate of less than 4 percent. However, the Trumps paid an additional $31 million under the alternative minimum tax, or AMT. Trump has previously called for the elimination of this tax.
Trump's 2005 return also shows that he'd continued to benefit from the roughly $916 million loss he reported in his 1995 return--published last year by The New York Times. Using a loophole Congress closed in 1996, Trump converted that loss into a tax credit for the same amount he could offset against income.
2005 was the year that Trump, a newly minted reality-TV star, made his last big score as a real-life real-estate developer, when he sold two properties, one on Manhattan's West Side and one in San Francisco, to Hong Kong investors, accounting for the lion's share of his income that year.
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