White House confirms Trump tax records leaked to MSNBC
President Donald Trump reported $150 million in income and paid $38 million in taxes in 2005, a White House official said before a MSNBC news report on Trump’s tax returns.
The announcement came shortly before a broadcast of “The Rachel Maddow Show.” Maddow tweeted that she had a 2005 copy of Mr. Trump’s Form 1040.
“Before being elected President, Mr. Trump was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required,” the White House official said.
Trump faced intense scrutiny for his break from a bipartisan tradition of disclosure by refusing to release his tax returns, citing a variety of reasons. His most frequent explanation was that his lawyers has advised him that he shouldn’t release information of that nature during an audit, though there no legal barriers that would have prevented him from doing so.
2005 has already been suggested as a prominent year in Trump’s financial history. That year, he donated a conservation easement — a promise not to build houses — on his golf course in Bedminster, N.J.
That donation was worth $39.1 million, according to local records reported by The Wall Street Journal last year. Analysts have stated it is unlikely Trump would have made such a donation without knowing the tax-friendly implications it could have.
Trump and his attorneys have previously said that he was audited for 2005, as well as several other years. According to The Wall Street Journal, “a return as it is filed may not reflect the final conclusion of that dispute.”
Full White House statement