Quote:OK, to preface this...  I'm not a CPA and my area of experience in regards to taxes is more on the corporation side...   But with that said, let's consider this:

 

A charitable contribution can be taken up to 10% of your income and be used as a deduction to reduce your income tax liability. However, the charitable contribution deduction can only be taken so long as your taxable income nets out to be a positive value.

 

So here's my theory:

 

Based on the information we have regarding his close to 1 billion dollar losses, I think it would come out that trump did not give any charitable contributions because it did not benefit him to do so.

 

I have not heard anyone else say or mention this.  This is just my theory.  I think it might be a reason why he's not releasing his taxes. It would be quite embarrassing if his taxes showed he had no charitable contributions.

Your theory is flawed.


1. He could only claim that loss on his taxes for 15 years, if he claimed it every year allowed, that allowance was up six years ago. So he'd probably be using those charitable deductions on his tax forms now.


2. Why would his tax forms show donations he wasn't legally allowed to claim at the time? Not claiming them and not making them are two different things.

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