Tags: Trump Administration | Democrats 2016 | Donald Trump | GOP2016 | Hillary Clinton | donald trump | hillary clinton

Hillary Clinton Also Lowers Tax Bill With a 'Trump' Carryover Loss

Hillary Clinton Also Lowers Tax Bill With a 'Trump' Carryover Loss

(AP Photos)

By    |   Monday, 03 October 2016 09:32 AM

 

Americans, at least those who write for the nation’s largest newspapers, are acting shocked to learn that Donald Trump’s tax returns show an operating loss carryover deduction. With a little research, they would be able to learn the Clintons are using a similar strategy to reduce their taxes.

Hillary Clinton is an investment wizard who turned $1,000 into more than $100,000 in less than a year trading cattle futures. She went long and short contracts to benefit from short-term trends in the market. Despite her astounding market timing skills, she chose to focus on public service as her source of wealth creation. This decision, in all likelihood, had nothing to do with the fact that her futures broker was suspended for violating exchange rules regarding cattle futures trading.

Clinton’s proven ability to time markets with pinpoint precision makes it surprising that she reported a loss of $726,721 in an equity partnership in 2008. This 100 percent loss did provide her with capital loss carryover losses the Clintons’ now use to lower their tax bill.

Between 2003and 2006, Bill and Hillary Clintons' tax returns show income from that investment of $12.5 million. In 2007, the Clintons earned $2.75 million from this partnership. Somehow, in 2008, this cash cow became completely worthless allowing Clinton to generate a paper loss that offsets future taxes.

There is most likely nothing wrong with Clinton’s 2008 write-off of the investment. And, there is most likely nothing wrong with Trump’s write-offs. Using the tax code to your advantage is an American right. The best outcome from all this would be to fix the code so no one can benefit like this in the future.  

Michael Carr, CMT, is a subadviser to a mutual fund family and a chartered market technician. To read more Michael Carr, CLICK HERE NOW.

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Americans, at least those who write for the nation's largest newspapers, are acting shocked to learn that Donald Trump's tax returns show an operating loss carryover deduction.
donald trump, hillary clinton, tax, loss
301
2016-32-03
Monday, 03 October 2016 09:32 AM
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