Kushner likely paid nearly no federal income taxes for years

Kushner likely paid nearly no federal income taxes for years

Kushner likely paid nearly no federal income taxes for years

The White House senior adviser and former chief of Kushner Companies may have paid little, if any, federal income tax for years between 2009 and 2016, according to documents obtained by the New York Times that show Kushner's businesses, earnings, expenses, debt obligations and some information from his federal tax filings. The Times said that Kushner's tax bills reflected the use of a tax benefit known as depreciation that lets real estate investors deduct part of the cost of their properties from their taxable income.

The Times reported the documents were prepared a year ago for an institution contemplating loaning funds to Kushner.

The federal tax law on depreciation, "often represents a lucrative giveaway to developers like Mr. Trump and Mr. Kushner".

Attorney Jonathan Blattmachr, one of the experts who reviewed Kushner's documents for the Times, told the publication that "If I had to live my life over again, I would have been in the real estate business". Richard Harvey Jr., a tax official that worked in numerous White House administrations, reviewed the tax documents as well.

Mirijanian said that on tax reform efforts, Kushner "followed his approved ethics agreement and has avoided work that would pose any conflict of interest".

Kushner Cos said previously it had more than $2.5 billion in transactions 2017 and has 12 million square feet under development in NY and New Jersey. The loss offset Kushner's income of $1.7 million in salary and investment gains, the Times reported, citing the documents. The disclosures also show that Kushner and his wife, Ivanka Trump, received at least $82 million in outside income in 2017.

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