Donald Trump paid $1 million in taxes while in office, but nothing in 2020.

Donald Trump paid $1.1 million in federal taxes during two of his four years at the helm of the United States… But almost nothing the rest of his time in the White House. According to a report reviewed by lawmakers on Wednesday, the Republican paid $750 in 2017, $1 million in 2018 and 2019, and nothing in 2020 as his losses escalated. As well as the year of his presidential defeat by Democrat Joe Biden.

These numbers show that the 76-year-old billionaire ran a huge deficit between 2015 and 2020. But his income skyrocketed in 2018 and 2019, sparking new speculation about the size of his fortune as Congress prepares to release its tax returns.

The former reality TV star recorded a $22 million capital gain from asset sales in 2018 and $9 million the following year. But he lost nearly $65 million during his 2015 and 2016 presidential campaigns and about $13 million in his first year in office. In 2020, his earnings amounted to about five million dollars.

The report also shows that Donald Trump suffered a net operating loss of $105 million in his 2015 income, $73 million in 2016, $45 million in 2017 and $23 million in 2018 to reduce his tax liability.

Losses claimed without justification

On Tuesday, elected officials voted to release the former president’s tax returns, which has been waging legal battles for several years, to keep them confidential. “Trump has reported tens of millions of dollars in losses and credits without the kind of justification that an ordinary taxpayer would likely provide,” Democratic MP Lloyd Doggett said in a statement.

A separate parliamentary report on the US tax authorities found that the tax authorities did not do what they were supposed to do for most of Donald Trump’s presidency. “The tax authorities opened only one mandatory audit from 2017 to 2020 on declarations filed during the tenure of the former president,” the text says.

The IRS launched its review of Donald Trump the same day the Commission Democrats requested information on his 2019 taxes.