President Donald Trump paid $38 million in federal income tax in 2005 on more than $150 million, for an effective rate of 25 percent, and reported a $105 million write-down, according to a copy of his federal tax return revealed on MSNBC Tuesday night.
Two pages of the tax document were obtained by David Cay Johnston, a Pulitzer Prize-winning investigative journalist, and he first reported about it Tuesday evening on MSNBC’s The Rachel Maddow Show.
The revelation provides the most recent glimpse at Trump’s income. Last fall, the New York Times reported that Trump reported a massive $916 million loss in 1995, which enabled him to avoid paying income taxes for decades.
Trump repeatedly has refused to release his income tax returns, breaking with decades of tradition for presidential nominees, claiming that he has been under audit.
The Washington Post could not independently verify the 2005 return, but a statement from the White House indicated that it is authentic. The statement, issued to reporters anonymously to be attributed to a White House spokesperson, accused MSNBC of unlawfully releasing Trump’s tax returns.