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Paper Losses Helped Kushner Minimize Taxes, Nyt Reports

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Jared Kushner, President Donald Trump’s son-in-law, paid almost no federal income taxes in several recent years despite a rising net worth and billions of dollars spent building his real estate empire, the New York Times reported Saturday. Citing “confidential financial records” it obtained, the Times reported that Kushner, 37, a senior White House adviser, for years minimized his tax bills by booking heavy losses on reported depreciation of his real estate holdings that overwhelmed his reported income. In a 2015 example, Kushner booked $8.3 million in losses driven by “significant depreciation” of real estate owned by Kushner and his company.

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