Jared Kushner reportedly dodged paying income taxes for years

pulse

October 13, 2018 4:48 PM

Jared Kushner, President Donald Trump's son-in-law, paid little to no federal income taxes from 2009 to 2016, according to a New York Times report. The report found Kushner Cos. filings with massive losses, a real estate tax law allowance that allows for a deduction to reduce taxes.

Jared Kushner, President Donald Trump's son-in-law, paid little to no federal income taxes from 2009 to 2016, according to a report from The New York Times.
Filings by the Kushner Companies reviewed by The Times show massive losses listed as depreciation, a real estate tax law allowance that allows for a deduction to reduce taxes.

Jared Kushner, President Donald Trump's son-in-law and senior adviser, paid little to no federal income taxes from 2009 to 2016, according to a new report from The New York Times.

After Times reporters reviewed more than 40 pages of documents that detailed Kushner's family real estate empire's business earnings, expenses and losses over 7 years with assistance from 13 tax accountants and lawyers, they concluded the Kushner Companies' filings repeatedly listed massive losses, a common "tax-minimizing maneuver."

Real estate tax law allows for an asset's gradual decline in value, a perk known as depreciation that poses generous benefits for investors in the form of a deduction of eligible income that decreases the amount of taxes paid on a given asset.

In one example in 2015, Kushner made $1.7 million in salary and investments from his famiy's firm, but listed $8.3 million lost to "significant depreciation" to the company's real estate that would have sharply decreased the taxes owed.

Representatives from the White House and Kushner Companies did not respond to the Times' requests for comment.

Saturday's report comes just over a week after the Times reported in a separate extensive investigation that the president employed "dubious tax schemes" in the 1990s, including "instances of outright fraud," to bolster his gains from the family inheritance.

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