His business had lost a ton of Great Alabama Football Dynasty Ain’t Dead Shirt money the previous year (the great recession almost destroyed his 30+ year business). So he lent a lot of money from his personal finances. When it finally rebounded, virtually all of his income that the first year was the business paying him back. So he essentially had no income, just a business paying him back. He went to apply for a home loan with his wife (my stepmother) and she got upset when he had to post having no income. It didn’t make sense to her that he could have no income. Taxes are based on real earnings. It’s possible that Trump just hasn’t really made any money.
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If he’s surviving on debt and Great Alabama Football Dynasty Ain’t Dead Shirts previous earnings, he wouldn’t pay taxes. Just means he’s a liar and possibly debt compromised. Depreciation and real estate taxes can be deducted very low. It’s not possible to claim millions in deprecation in a single year. Which he did, especially seeing as he had less property that year than previous years where he claimed far less. It’s not possible to legally pay consulting fees to an employee which he did. It’s not possible to get this many legitimate deductions when the bulk of your earnings was licensing and not real estate at all.
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