White House releases 2005 Trump tax details before TV report



But they also paid $31.3 million in the alternative minimum tax, which mainly kicks in when people with high incomes use a lot of tax deductions.

AMT was originally created to prevent rich taxpayers from using excessive loopholes, and Trump has previously called for its elimination.

Here's Rachel's discussion with DCReport's David Cay Johnston and MSNBC's Chris Hayes on what we've learned from the obtained documents.

Baquet did wind up publishing several pages of Trump's 1995 tax returns, in which he reported a loss of almost $1 billion, which meant he could have avoided paying federal income taxes for 18 years.

The forms, which the White House called "illegally published", show that Trump earned more than $150 million that year, paid $38 million in taxes and took a $103 million write down.

It said this could have affected his returns for up to 18 years, allowing him to legally avoid paying federal income taxes.

Trump's refusal to release his tax returns despite decades of precedent featured heavily in the 2016 presidential race. Veteran reporters who covered Trump on the campaign trail said the language of the statement points to being written by Donald Trump, not an aide.

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-Appearing on MSBNC with Maddow on Tuesday night, Johnston speculated that Trump might have leaked the 2005 returns himself.

As Ronald Klain, a former Obama administration aide, noted, the statement from the White House underscores that there's no legal reason the president can't release his tax returns.

-The documents were the first page of Trump's New York State resident return, the first page of his CT non-resident return and the first page of his New Jersey non-resident return. "It's entirely possible Donald sent this to me, he said".

Presidents and major candidates for the White House have routinely released their income tax returns.

"The dishonest media can continue to make this part of their agenda, while the President will focus on his, which includes tax reform that will benefit all Americans", it added.

In January, Trump adviser Kellyanne Conway said the White House would not release the documents.

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