Leaked Trump Tax Return Reveals $38M Bill

2005 document was leaked to Rachel Maddow
By Rob Quinn,  Newser Staff
Posted Mar 15, 2017 1:11 AM CDT
President Trump listens during a meeting on health care in the White House on Monday.   (AP Photo/Pablo Martinez Monsivais, File)

(Newser) – It was probably only a matter of time: Part of one of the tax returns that President Trump has refused to release has been leaked, revealing that he paid millions of dollars under a tax law he plans to abolish. The two pages from the 2005 return were unveiled by MSNBC's Rachel Maddow after a long buildup Tuesday night, CNN reports. They had been supplied by journalist David Cay Johnston, who said he received them in the mail from an anonymous source. The form shows that Trump paid $38 million in federal taxes on more than $150 million in income in 2005, though more than 80% of that was under the "alternative minimum tax" introduced to stop the rich using loopholes to avoid tax, which Trump wants to scrap.

The leaked portion of the return shows that Trump paid an effective tax rate of 24%—more than the average American, though less than the higher-earning citizen's average of 27.4%—but it didn't reveal anything about his sources of income or charitable donations, the BBC reports. Trump is the first president since 1976 not to have released his tax returns, which he says is because of an IRS audit. The White House confirmed the 2005 figures before Maddow's broadcast—and condemned the leak as illegal. "You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago," the White House said in a statement. (Read more Trump tax return stories.)

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