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May 26, 2019

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Trump inheritance taxes

Tue, Oct 2, 2018 (2:49 p.m.)

President Donald Trump has long sold himself as a self-made billionaire, but a New York Times investigation found Trump’s parents transferred well over $1 billion in wealth to their children. That windfall could have produced a tax bill of at least $550 million under the 55 percent tax rate on gifts and inheritances that was in place at the time, the Times investigation shows. Helped by a variety of tax dodges, the Trumps paid $52.2 million, or about 5 percent, tax returns show.

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