NYT: Kushner Likely Paid No Federal Income Taxes for Years, Documents Show

Confidential documents reviewed by The Times indicate that Jared Kushner, President Trump’s son-in-law and adviser, probably paid little or no income tax from 2009 to 2016.

Jared Kushner, first down the steps of Air Force One, probably avoided paying federal income taxes via his family’s real estate investments.CreditCreditAl Drago for The New York Times

By Jesse Drucker and Emily Flitter

And yet, for several years running, Mr. Kushner — President Trump’s son-in-law and a senior White House adviser — appears to have paid almost no federal income taxes, according to confidential financial documents reviewed by The New York Times.

His low tax bills are the result of a common tax-minimizing maneuver that, year after year, generated millions of dollars in losses for Mr. Kushner, according to the documents. But the losses were only on paper — Mr. Kushner and his company did not appear to actually lose any money. The losses were driven by depreciation, a tax benefit that lets real estate investors deduct a portion of the cost of their buildings from their taxable income every year.

In 2015, for example, Mr. Kushner took home $1.7 million in salary and investment gains. But those earnings were swamped by $8.3 million of losses, largely because of “significant depreciation” that Mr. Kushner and his company took on their real estate, according to the documents reviewed by The Times.

Read more at NYT

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  1. For about 30 years from 1960-1990 interest rates were above 6% and as high as 18% at times. Banks and savings and loans even provided gifts to induce depositors. We got a free computer and many others during this period. Senior citizens could earn a good, safe, return of about 10% on their life savings to get them through the senior age. Then things changed when the federal debt became in the trillions pressure was on to keep interest rates low so the government’s interest bill was as low as possible because that is all they pay on the debt.

  2. The real estate market thrived for decades on development. Now it thrives on “revitalization” which is predating on the poor, and causing gentrification in previously stable neighborhoods. This forces middle to low income folks into renting as the only option. Rentals provide a constant stream of write offs, as the giant hamster wheel known as capitalism rolls over the common person. Here’s the bill. and here’s the receipt , are two different things to nearly all maintenance folks with relationships to constant sources of work. The loop holes are everywhere. Learning how to work the system is what Trump U focused on. Nothing explicit stated was illegal, but the implication was there. Our real estate market as a Capitalistic enterprise, is unsustainable.

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