But the real story may be different Happy Joemaha Tee Shirt from the one he told. Federal law holds that investors can claim a total loss on an investment, as Mr. Trump did, only if they receive nothing in return. Mr. Trump did appear to receive something in return: 5 percent of the new casino company that formed when he renounced his stake. In 2011, the I.R.S. began an audit reviewing the legitimacy of the refund. Almost a decade later, the case remains unresolved, for unknown reasons, and could ultimately end up in federal court, where it could become a matter of public record.
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Mr. Trump bought the estate, which stretches over more than 200 acres in the city, N.Y., in 1996. His sons Eric and Donald Jr. spent summers living there when Happy Joemaha Tee Shirts they were younger. “This is really our compound,” Eric told Forbes in 2014. “Today,” the Trump Organization website continues to report, “Seven Springs is used as a retreat for the Trump family.” Nonetheless, the elder Mr. Trump has classified the estate as an investment property, distinct from a personal residence. As a result, he has been able to write off $2.2 million in property taxes since 2014 — even as his 2017 tax law has limited individuals to write off only $10,000 in property taxes a year. Many people voted for him. He can become president for four more years.
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