Five takeaways from Trump’s tax return report

A New York Times report saying President Donald Trump paid just $750 in federal income tax the year he entered the White House has added yet another dynamic to a contentious and fast-developing election season. The report, which included the revelation that thanks to colossal losses, Trump paid no federal income tax at all in 11 of the 18 years the Times reviewed, is set to tarnish the president’s decades-crafted image as a successful businessman. That carefully maintained brand helped Trump capture the presidency in 2016. The president has vehemently denied the report, on Sunday calling it “fake news” and on Monday tweeting he had paid “many millions of dollars in taxes” but was entitled to depreciation and tax credits. He also said he was under-leveraged, meaning he has more assets than debt. style="width: 100%; height: 100%; position: absolute; top: 0; bottom: 0; right: 0; left: 0;">