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Report: Trump losses may mean he didn't pay taxes for years

The statement added that Trump had paid "hundreds of millions" of dollars in other kinds of taxes over the years. Since 1976, every major party presidential nominee has released tax returns. The Times said a lawyer for Trump argued that publication of the records would be illegal because Trump had not authorized their disclosure. Because of provisions in the tax code that allow wealthy individuals to offset their personal income with losses in various partnerships and business ventures, Trump could have used his losses in 1995 to avoid incurring tax liabilities on as many as three years of prior and 15 years of future profits.
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