DENVER (AP) — Donald Trump's leaked returns highlight differences in the tax code for wealthy businesses and individuals and everyone else.
Trump claimed more than $900 million in losses in 1995 that could have allowed the Republican presidential nominee avoid paying taxes for 18 years. That's according to a New York Times report based on pages from Trump's tax returns.
Experts say Trump used provisions available to wealthy business owners to lower his future liabilities. They allow him to claim losses for depreciations on real estate and other assets. In contrast, homeowners get no tax break when their homes lose value.
The tax code includes breaks for business to encourage investment. But those can be exploited. Some economists warn against extrapolating too much from Trump's returns because he is such an unusual businessman.