Trump paid just $750 income taxes in 2016-17: Report

TIL Desk/World/Washington/ Donald Trump paid just $750 (approximately Rs 55,226 as per current exchange rates) in federal income taxes in the year he was elected United States president and also in his first year in the White House, according to a media report, which also said that he or his companies paid $145,400 taxes in India in 2017.

Trump entered the 2016 presidential race as a Republican and was elected in a surprise victory over Democratic nominee Hillary Clinton. ‘Donald J Trump paid USD 750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750,’. citing tax return data extending over 20 years.

The report came just days before Trump’s first presidential debate with Democratic rival Joe Biden on Tuesday and weeks before the November 3 presidential election. Trump paid no income taxes at all in 10 of the previous 15 years largely because he reported losing much more money than he made, the report said.