Oct 02


Clinton Campaign Admits Hillary Used Same Tax Avoidance “Scheme” As Trump:

Well this is a little awkward. With the leaked 1995 Trump tax returns ‘scandal’ focused on the billionaire’s yuuge “net operating loss” and how it might have ‘legally’ enabled him to pay no taxes for years, we now discover none other than Hillary Rodham Clinton utilized a $700,000 “loss” to avoid paying some taxes in 2015.

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One Response to “Clinton Campaign Admits Hillary Used Same Tax Avoidance “Scheme” As Trump”

  1. Bob Smith Says:

    I certainly hope no one takes this joke of a website seriously, but God forbid someone read and believe this, let me explain what this person clearly does not understand.

    The “$700,000 ‘loss'” is a legitimate one. If you look at the Clinton’s tax return for 2015 (which cannot be compared to Trump’s to know what “scheme” he used, since he hasn’t released his returns), there is a $699,540 loss on Line 14 of their Schedule D for Capital Gains and Losses. This means they are carrying forward that much as a prior loss (from passed tax years) as a loss of value on capital assets. However, capital losses are limited to $3,000 per year, and the remainder is carried forward to the next years, allowing the taxpayer(s) to claim $3,000 a year as a loss each year until the full amount of loss has been realized.

    This $699,540 loss is carried down to Line 15, since it is a long-term loss (this simply means the asset was held for more than one year, otherwise it would be a short-term loss) and then it is carried to Line 16 which shows total Capital Gain or Loss, also $699,540. Being a loss, Lines 17-20 are skipped and Line 21 is recorded as the smaller of Line 16 or $3,000 (unless MFS, which is $1,500).

    Line 16 exceeding the limit, a $3,000 loss is recorded there on Line 21 of the Schedule D and reported on Line 13 as a Capital Loss of $3,000 in the income section of the Form 1040. Recording this loss, the Clintons still end up with a gross income of $10,745,378 as seen on Line 22 of Form 1040.

    All said and done, last year, the Clintons paid $3,624,455 in federal income tax…and this article is complaining about a $3,000 capital loss. So, I hope you see how ridiculous that is.

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