David Rosenbloom Talks to Bloomberg on Trump's Interest Income

President Donald Trump earned a large amount of interest income two decades ago that was used in tandem with then-burgeoning losses to help him avoid paying federal taxes, according to newly published tax details.

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“People will sometimes go out of their way to generate income, because they have expiring NOLs and they want to absorb them,” according to H. David Rosenbloom, a tax partner at Caplin & Drysdale. “People go through hoops” in order to avoid losing that tax benefit,” he said. “There’s nothing illegal about it.”

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“I’m skeptical that” the new details “demonstrate real economic losses, as opposed to tax losses on paper, Rosenbloom said. “There’s plenty of that in the real estate industry.”

For the full article, please visit Bloomberg's website.

Excerpt taken from the article “Trump’s ‘Abnormal’ Interest Income Two Decades Ago Came Tax-Free” by Lynnley Browning for Bloomberg.