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What is Depreciation, and Why Was it Mentioned in Sunday Night’s Debate?

About halfway through Sunday night’s presidential debate, the conversation turned to taxes, and specifically to the topic of candidate Donald Trump’s tax returns. Following revelations that Trump claimed more than $900 million in business losses in 1995, debate moderator Anderson Cooper wanted to know if Trump had used those losses to lower his tax bill. COOPER: Did you use that $916 million loss to avoid paying federal income taxes? TRUMP: Of course I did.
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